Shell dropped some frustrating news about its transition to clean energy during an internal presentation in December 2024.
What's happening?
According to Reuters, Shell announced plans to scale back its offshore wind development and restructure its power division.
The company laid out its goal to further reduce spending on clean energy and increase its investment in oil and gas, a move that feels like a complete 180 from its pledge to reduce pollution.
Shell said it will continue to develop offshore wind projects already underway, per Reuters, but the company has boosted dirty energy production and pulled out of numerous offshore wind projects in the past year.
Why is the about-face on offshore wind concerning?
The move is the continuation of a trend of Big Oil reversing course on the necessary transition to cleaner energy sources. Last year, BP abandoned its goal of reducing pollution. Shell followed suit, lowering its carbon reduction targets, citing the high demand for gas.
Moving the goalposts feels like a clear signal that Shell and BP are not truly committed to transitioning away from dirty energy.
The oil giants have struggled to make the economics of offshore wind viable despite its enormous potential to generate electricity, instead appearing to bow to pressure from investors.
According to Reuters, Shell CEO Wael Sawan said the company is focused on activities with the highest returns. It has since scaled back operations in offshore wind, solar, and hydrogen despite continuing to tout its commitment to more affordable energy sources.
Big Oil has even been accused of spreading disinformation about offshore wind.
|
Do you think gas stoves should be banned nationwide? Click your choice to see results and speak your mind. |
No way 👎 The moves reveal that these companies have chosen profits and shareholders over our future and the health of our planet. All those sustainability targets appear to be the smoke and mirrors of corporate greenwashing.
What's being done about offshore wind?
Despite this setback, people remain committed to transitioning to clean energy sources such as offshore wind.
Engineers in Denmark recently unveiled a concept that could simplify maintaining offshore wind turbines. Japan is pioneering a cost-effective method for offshore wind. In Norway, developers announced a low-cost Windcatcher designed to be more efficient than traditional towers.
Such innovations could help overcome the financial and supply chain challenges that have stymied the energy giants' transition away from dirty energy.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
