Shell publishes its new Industry Associations Climate Review, its 2018 Sustainability Report and its annual Payments to Governments Report. The three reports together further demonstrate Shell’s efforts to increase transparency around activities that are important to investors, governments and civil society.
“Shell must remain at the forefront of the drive for greater corporate transparency. We will continue to be more open about what we do and why we do it,” said Shell chief executive officer Ben van Beurden. “We want to help people better understand Shell’s performance, values and principles. These reports outline our approach and activities in the crucial areas of sustainability and our relationships with industry associations and governments.”
The Industry Associations Climate Review assesses for the first time Shell’s alignment with 19 key industry associations on climate-related policy. The report also details new governance principles to improve how Shell manages its memberships of industry associations on climate-related topics.
“We must be prepared to openly voice our concerns where we find misalignment with an industry association on climate-related policy,” said van Beurden. “In cases of material misalignment, we should also be prepared to walk away.”
The 22nd edition of the Shell Sustainability Report outlines Shell’s approach to sustainability and covers its social, safety and environmental performance in 2018. It sets out how Shell is playing a role in the transition to a lower-carbon world and its contribution to society, which includes helping to achieve universal access to cleaner, affordable energy.
The Sustainability Report also includes the Net Carbon Footprint* of energy products Shell sold in 2016, 2017 and 2018, figures we are publishing for the first time.
Shell aims to cut the Net Carbon Footprint of the energy products it sells, in step with society’s progress towards the goal of the Paris Agreement, by around 20% by 2035 and by around half by 2050.
In line with this ambition, and beginning in 2019, Shell has set an initial three-year target to reduce its Net Carbon Footprint by between 2% and 3% compared to 2016. Executive pay is now linked to this target.
In addition, Shell published its 2018 Payments to Governments Report covering countries where it has extractive activities. This report details payments in 34 countries and is prepared in accordance with the UK’s The Reports on Payments to Governments Regulation 2014 (as amended in December 2015).
To read the Industry Associations Climate Review click here.
The 2018 Sustainability Report is available here.
Shell’s Payments to Governments Report can be found here.