TIDMRDSA TIDMRDSB 
 
   April 16, 2020 
 
   Royal Dutch Shell plc (Shell) will today update investors on plans to 
become a net-zero emissions energy business by 2050 or sooner (covering 
scope one, two and three emissions). The detailed steps, to be outlined 
at Shell's Responsible Investment Annual Briefing today, will include: 
 
 
   -- An ambition to be net zero on all the emissions from the manufacture of 
      all our products (scope one and two) by 2050 at the latest; 
 
   -- Accelerating Shell's Net Carbon Footprint ambition to be in step with 
      society's aim to limit the average temperature rise to 1.5 degrees 
      Celsius in line with the goals of the Paris Agreement on Climate Change. 
      This means reducing the Net Carbon Footprint of the energy products Shell 
      sells to its customers by around 65% by 2050 (increased from around 50%), 
      and by around 30% by 2035 (increased from around 20%); 
 
   -- A pivot towards serving businesses and sectors that by 2050 are also 
      net-zero emissions. 
 
 
   "With the COVID-19 pandemic having a serious impact on people's health 
and our economies, these are extraordinary times. Yet even at this time 
of immediate challenge, we must also maintain the focus on the long term, 
" said Ben van Beurden, Chief Executive Officer of Royal Dutch Shell. 
 
   "Society's expectations have shifted quickly in the debate around 
climate change. Shell now needs to go further with our own ambitions, 
which is why we aim to be a net-zero emissions energy business by 2050 
or sooner. Society, and our customers, expect nothing less." 
 
   "This announcement significantly increases Shell's ambitions and 
commitments," said Adam Matthews, Director of Ethics and Engagement of 
the Church of England Pensions Board, Board Member of the Institutional 
Investors Group on Climate Change, and Co-lead as part of the Climate 
Action 100+ dialogue with Shell. "It is indicative of Shell's confidence 
in not only navigating the immediate situation but rightly sets the 
focus on developing net-zero pathways in key sectors that shape the 
demand for energy.  Ultimately, it will be by developing and supporting 
net-zero pathways in these sectors that we will achieve the goals of the 
Paris Agreement." 
 
   Peter Ferket, Chief Investment Officer of Robeco, Co-lead as part of the 
Climate Action 100+ dialogue with Shell, said: "These new ambitions 
build on the 2018 joint statement between Shell and Climate Action 100+. 
It proves that the strong and committed engagement of institutional 
investors with Shell can help accelerate the pace of change to deliver 
the goals of the Paris Agreement. It raises the bar and sets out an 
approach for others in the oil and gas sector to follow." 
 
   Link here for more details on Shell's climate ambitions 
https://www.globenewswire.com/Tracker?data=wrMHaNfy6tN_dAduAvrbCjLxDwZ_0VkJOMHJx72uRHSXsO7lPtO-jPUBpvQ_8hqGHg6SWPlrf59fBL8qcXQ9hEb6pV-Hh4bm_h-1ulYlclQK4lTJ3Lued_VzFH8oAeEJ 
www.shell.com/netzeroambition 
 
   Also published today is an update to the 2019 Industry Associations 
Climate Review, available here 
https://www.globenewswire.com/Tracker?data=wrMHaNfy6tN_dAduAvrbCuxwT6qtVWvskevR6jB6cpdt5lHFUUwFaLiBdxBWLJs7PGSX3Fy7BX-9tBHkNiGPAn848L-W4LOnW7nQYn4eAbg= 
www.shell.com/advocacy 
 
   Enquiries: 
 
   Investor Relations 
 
   International: +31 70 377 4540 
 
   North America: +1 832 337 2034 
 
   Media Relations 
 
   International: +44 207 934 5550 
 
   US: +1 832 337 4355 
 
   Notes to editors: 
 
 
   1. In 2017, Shell was the first international oil and gas company to set the 
      ambition to reduce the Net Carbon Footprint of the energy products it 
      sells, expressed as a measure of carbon intensity, taking into account 
      their full life-cycle emissions. Shell aimed to reduce the Net Carbon 
      Footprint of its energy products by around half by 2050, and by around 
      20% by 2035, in step with society's drive to meet the goals of the Paris 
      Agreement. In 2018, with unprecedented levels of collaboration with 
      investors, Shell announced its intention to build on that long-term 
      ambition with the commitment to setting specific Net Carbon Footprint 
      targets for shorter periods, of three or five years, linking them to 
      executive remuneration. In early 2019 Shell set an unconditional 
      three-year target (to 2021) to reduce its Net Carbon Footprint by 2% to 
      3% compared to 2016, linked to senior executive remuneration. For the 
      2020 unconditional three-year target (to 2022) the target range is a 3-4% 
      reduction in its Net Carbon Footprint against the 2016 baseline, linked 
      to remuneration for more than 16,500 staff. It is intended that this 
      target setting will be done annually, with each year's target covering a 
      three-year period. 
 
   2. Shell will track and report on progress in achieving both the aim to 
      reduce the Net Carbon Footprint of the energy products it supplies, as 
      well as progress towards achieving net-zero emissions from its 
      operations. Shell will also work to develop a method for tracking and 
      reporting emission reduction by its customers. Tracking and reporting the 
      reduction of customer emissions will require the development of 
      appropriate accounting methodologies and frameworks. 
 
   3. As of today, Shell's operating plans and budgets do not reflect these 
      newly announced ambitions. Shell's aim is that, in the future, its 
      operating plans and budgets will change to reflect this movement towards 
      its new net-zero emissions ambition. These plans and budgets need to be 
      in step with the movement towards a net-zero emissions economy within 
      society and among Shell's customers. 
 
   4. Shell is assisting customers, communities and colleagues in a number of 
      ways in response to COVID-19. Steps include enhanced health and safety 
      measures at all our retail sites globally, and free food and drink at 
      more than 15,000 retail sites across 30 countries for health-care 
      professionals, truck drivers and delivery people. Other measures include 
      donating ingredients for hand-sanitising products across several 
      countries, including 2.5 million litres of isopropyl alcohol to the Dutch 
      health-care sector. To read about Shell's full response across the globe 
      to COVID-19, go to http://www.shell.com/covid19 www.shell.com/covid19 
 
 
   Cautionary note 
 
   The companies in which Royal Dutch Shell plc directly and indirectly 
owns investments are separate legal entities. In this release "Shell", 
"Shell Group" and "Royal Dutch Shell" are sometimes used for convenience 
where references are made to Royal Dutch Shell plc and its subsidiaries 
in general. Likewise, the words "we", "us" and "our" are also used to 
refer to Royal Dutch Shell plc and its subsidiaries in general or to 
those who work for them. These terms are also used where no useful 
purpose is served by identifying the particular entity or entities. 
"Subsidiaries", "Shell subsidiaries" and "Shell companies" as used in 
this release refer to entities over which Royal Dutch Shell plc either 
directly or indirectly has control. Entities and unincorporated 
arrangements over which Shell has joint control are generally referred 
to as "joint ventures" and "joint operations", respectively.  Entities 
over which Shell has significant influence but neither control nor joint 
control are referred to as "associates". The term "Shell interest" is 
used for convenience to indicate the direct and/or indirect ownership 
interest held by Shell in an entity or unincorporated joint arrangement, 
after exclusion of all third-party interest. 
 
   It is important to note that as of April 16, 2020, Shell's operating 
plans and budgets do not reflect Shell's net-zero emissions ambition. 
Shell's aim is that, in the future, its operating plans and budgets will 
change to reflect this movement towards its new net-zero emissions 
ambition. However, these plans and budgets need to be in step with the 
movement towards a net zero emissions economy within society and among 
Shell's customers. 
 
   Also, in this release we may refer to Shell's "Net Carbon Footprint", 
which includes Shell's carbon emissions from the production of our 
energy products, our suppliers' carbon emissions in supplying energy for 
that production and our customers' carbon emissions associated with 
their use of the energy products we sell. Shell only controls its own 
emissions. The use of the term Shell's "Net Carbon Footprint" is for 
convenience only and not intended to suggest these emissions are those 
of Shell or its subsidiaries. 
 
   This release contains forward-looking statements (within the meaning of 
the U.S. Private Securities Litigation Reform Act of 1995) concerning 
the financial condition, results of operations and businesses of Royal 
Dutch Shell. All statements other than statements of historical fact are, 
or may be deemed to be, forward-looking statements. Forward-looking 
statements are statements of future expectations that are based on 
management's current expectations and assumptions and involve known and 
unknown risks and uncertainties that could cause actual results, 
performance or events to differ materially from those expressed or 
implied in these statements. Forward-looking statements include, among 
other things, statements concerning the potential exposure of Royal 
Dutch Shell to market risks and statements expressing management's 
expectations, beliefs, estimates, forecasts, projections and 
assumptions. These forward-looking statements are identified by their 
use of terms and phrases such as "aim", "ambition", "anticipate", 
"believe", "could", "estimate", "expect", "goals", "intend", 
"may", "objectives", "outlook", "plan", "probably", 
"project", "risks", "schedule", "seek", "should", "target", 
"will" and similar terms and phrases. There are a number of factors 
that could affect the future operations of Royal Dutch Shell and could 
cause those results to differ materially from those expressed in the 
forward-looking statements included in this release, including (without 
limitation): (a) price fluctuations in crude oil and natural gas; (b) 
changes in demand for Shell's products; (c) currency fluctuations; (d) 
drilling and production results; (e) reserves estimates; (f) loss of 
market share and industry competition; (g) environmental and physical 
risks; (h) risks associated with the identification of suitable 
potential acquisition properties and targets, and successful negotiation 
and completion of such transactions; (i) the risk of doing business in 
developing countries and countries subject to international sanctions; 
(j) legislative, fiscal and regulatory developments including regulatory 
measures addressing climate change; (k) economic and financial market 
conditions in various countries and regions; (l) political risks, 
including the risks of expropriation and renegotiation of the terms of 
contracts with governmental entities, delays or advancements in the 
approval of projects and delays in the reimbursement for shared costs; 
(m) risks associated with the impact of pandemics, such as the COVID-19 
(coronavirus) outbreak; and (n) changes in trading conditions. No 
assurance is provided that future dividend payments will match or exceed 
previous dividend payments. All forward-looking statements contained in 
this release are expressly qualified in their entirety by the cautionary 
statements contained or referred to in this section. Readers should not 
place undue reliance on forward-looking statements. Additional risk 
factors that may affect future results are contained in Royal Dutch 
Shell's Form 20-F for the year ended December 31, 2019 (available at 
https://www.globenewswire.com/Tracker?data=wrMHaNfy6tN_dAduAvrbCgtIPvwwAh8ed_yM3iBaYDUMSF66kmYfbxkMT-hELAJu7EXwSxlFCVXTBV6rzM5JOy5h7h16h3nLufKMHS3nisQ= 
www.shell.com/investor and 
https://www.globenewswire.com/Tracker?data=wrMHaNfy6tN_dAduAvrbCoYoG0sxzhNMHHCF0wwUXNaG8MjxiHshhSElS0m8hC9oDvTQFk112nHKdos2mx6NSA== 
www.sec.gov). These risk factors also expressly qualify all 
forward-looking statements contained in this release and should be 
considered by the reader.  Each forward-looking statement speaks only as 
of the date of this release, April 16, 2020. Neither Royal Dutch Shell 
plc nor any of its subsidiaries undertake any obligation to publicly 
update or revise any forward-looking statement as a result of new 
information, future events or other information. In light of these risks, 
results could differ materially from those stated, implied or inferred 
from the forward-looking statements contained in this release. 
 
   We may have used certain terms, such as resources, in this release that 
the United States Securities and Exchange Commission (SEC) strictly 
prohibits us from including in our filings with the SEC.  Investors are 
urged to consider closely the disclosure in our Form 20-F, File No 
1-32575, available on the SEC website www.sec.gov. 
 
 
 
 

(END) Dow Jones Newswires

April 16, 2020 02:01 ET (06:01 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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