Shell doubles up on green spending and vows to halve carbon footprint

Anglo-Dutch giant to spend $2bn on wind power, biofuels and electric cars as it bows to shareholder pressure by setting new company climate change target

Shell has doubled its spending on clean power and bowed to shareholder pressure by promising to halve the carbon footprint of the energy it sells by 2050, as the oil giant said it was stepping up its ambitions on green energy.

The Anglo Dutch firm is increasing capital expenditure for its new energies division, to $1bn-$2bn (£750m to £1.5bn) a year for 2018-2020, up from a previous plan of up to $1bn a year by 2020.

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from The Guardian http://ift.tt/2BsoDND