Shell is reportedly considering slowing the pace of cutting carbon emissions ahead of releasing its updated energy transition strategy.
The publication of the energy giant's climate targets could come as soon as tomorrow, when the company is set to publish a updated long-term plan for clean energy and greenhouse gas emissions, according to people "familiar with the matter", writes Bloomberg.
CEO Wael Sawan has plans to give better returns to shareholders by allocating greater investment into oil and gas.
Last year, BP's share price jumped 8% in a day after it said it would pump more oil and gas, producing more CO2 emissions than previously planned.
A team at Shell has studied different options for the company's emissions reductions strategy and presented them to senior management, according to Shell insiders.
The company says the new energy transition strategy will "contain details of plans to become a net zero emissions energy business by 2050".
It's previous plan, released in 2021, signalled the intent to reduce its net zero carbon intensity by 20% in 2030 and 45% in 2035 (against a 2016 baseline) in order to give better returns to shareholders.