Shell has revealed its plans to invest in electric vehicle charging networks and hydrogen refuelling stations over the next decade.
The oil giant has outlined its ‘road to net-zero emissions’ plan, which it wants to achieve by 2050. It’s a far reaching goal, taking into account emissions from its operations, emissions from the use of all of its energy products, and emissions from the oil and gas produced by others that Shell sells.
One of the key parts of this plan is the growth of its electric vehicle charging network. The firm currently has 60,000 charge points but wants to increase this to around 500,000 by 2025.
Furthermore, it wants to build on its existing hydrogen refuelling hubs, aiming to have a double-digit share of global clean hydrogen sales, by targeting industry and heavy-duty transport. Such vehicles appear better-suited to transitioning to hydrogen because of the limitations of a pure-electric vehicle’s range.
As well as looking at the future of alternative fuels, Shell says it is investing further in biofuels, saying it sold 10 billion litres in 2019. It founded Raizen in 2010, which produces low-carbon fuels from sugar cane in Brazil. It recently acquired a similar company called Biosev, which will increase its bioethanol production by 50 per cent, with Shell saying this will make Raizen responsible for three per cent of global production.
Ben van Beurden, Royal Dutch Shell Chief Executive Officer, said: “Our accelerated strategy will drive down carbon emissions and will deliver value for our shareholders, our customers and wider society.
“We must give our customers the products and services they want and need – products that have the lowest environmental impact. At the same time, we will use our established strengths to build on our competitive portfolio as we make the transition to be a net-zero emissions business in step with society.”