Shell Scales Back Renewable Energy Investments

March 18, 2009

Email this story Print this post Add your comments

Royal Dutch Shell has angered “green” groups by announcing plans to scale back its renewable energy business to focus on oil, gas and biofuels, reports the U.K. Times.

Shell’s CEO said the company was planning to drop all new investment in wind, solar and hydrogen energy, and instead would focus its renewable energy investments on biofuels, according to the U.K. Times. Shell also said that it will maintain its spending on carbon capture and storage projects in Germany, Netherlands, Norway, Canada, Australia and America.

This announcement doesn’t help the company’s recent environmental troubles. Shell came in last for carbon emissions ratings among major oil producers in a study released in March 2009. In February 2009, the oil producer was accused of exaggerating environmental policies.

Still, Shell has invested $1.7 billion in alternative energy over the past five years, compared with a total capital expenditure of $32 billion this year, and holds stakes in 11 wind power projects, mostly in the United States, with the capacity to generate 1,100 megawatts of electricity, reports the U.K. Times.

Email this story Print this post Add your comments

Advertisers

Make sustainability part of your strategy.

Get equipped at the SAP Sustainability Resource Center. >>

Unclear about the EPA's new GHG Rule?

Learn how it could affect your business. >>

EPA mandatory emissions reporting starts Jan 1st

CSA Standards can help your organization get ready for compliance. Find out how. >>

Product Environmental Compliance Best Practices

How to achieve compliance at a significantly lower cost. Download the full report. >>

Join the Discussion

Recent Daily News [ see all ]

11/20/2009
11/19/2009
11/18/2009

Charts [ see all ]

European Paper Industry Cuts CO2 Emissions by 42% since 1990

S. America Takes Most Urgent View of Copenhagen Talks

Nike Tops Annual Climate Action Scores

Oceans May Trap more Carbon than Forests

Jobs

View All Jobs >> Post a Job >>

Comments and Discussions

Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."

Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."

peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."

Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."

Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."

Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."

peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."

Environmental Leader