"Shell’s investments in renewable energy have dropped to 8%, 31 October 2024

" Shell’s latest financial report reveals a concerning trend: investments in renewable energy have fallen to a mere 8% of the company’s total spending. Shell is still heavily investing in fossil fuels despite the growing need for clean energy.

“By continuing to bet on fossil fuel expansion, the board of Shell jeopardizes the future of the company,” says Mark van Baal, founder of the activist shareholder group Follow This.

Fossil fuel growth delays the transition and increases the risk of a carbon lock-in, a situation where we get stuck with high-carbon energy systems and infrastructure, making it difficult to transition to cleaner alternatives..."