Current Events > Shell plans to spend 1 billion a year on clean energy by 2020

(+) Yeah! (+)

https://www.bloomberg.com/news/articles/2017-07-10/shell-plans-to-spend-1-billion-a-year-on-clean-energy-by-2020

Capitalism literally saving the day

I didn't realize Shell was based in the Netherlands until I remembered the company's full name is Royal Dutch Shell, but then the Royal part draws more attention and reminds me they're technically both Dutch and British
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Clad posted...

Capitalism literally saving the day

if you think 1b/year is even remotely close to enough you are lying to yourself about the scale of the problem
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Darkman124 posted...

Clad posted...

Capitalism literally saving the day

if you think 1b/year is even remotely close to enough you are lying to yourself about the scale of the problem

More like I think the free market is turning in renewable energy's favor, and that the big players in the energy sector are preparing to invest a lot of money.

Are they going to shut down their wells, too?
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Antifar posted...

Are they going to shut down their wells, too?

Please tell me that you're not actually stupid enough to believe oil companies can shut down their wells.

Like this will change anything.
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Clad posted...

Antifar posted...

Are they going to shut down their wells, too?

Please tell me that you're not actually stupid enough to believe oil companies can shut down their wells.

So they're going to keep doing the thing that contributes to global warming, then. While spending 0.5% of their revenue on clean energy three years from now.
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Shell you are being anti American.
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Darkman124 posted...

Clad posted...

Capitalism literally saving the day

if you think 1b/year is even remotely close to enough you are lying to yourself about the scale of the problem

Woosh.

Kirby posted...

Like this will change anything.

Their evolving stance is certainly a good thing.

Antifar posted...

Clad posted...

Antifar posted...

Are they going to shut down their wells, too?

Please tell me that you're not actually stupid enough to believe oil companies can shut down their wells.

So they're going to keep doing the thing that contributes to global warming, then.

If they shut down their wells, all of society will collapse and you can't read those dainty communism blogs anymore. Oil is a necessity for the time being.

Antifar posted...

While spending 0.5% of their revenue on clean energy three years from now.

Mobilizing a billion dollars' worth of yearly investments into something that won't be profitable for them for a while is not a walk in the park. You need capable teams, you need to review the industry and the lay of the land, you need to find out exactly what you're going to invest into and what your road map is. You don't just throw a billion to the wind and call that investing.

I realize that you couldn't even run a lemonade stand, which is why you hold these really weird views about how business works. But don't be foolish into thinking this is somehow a bad thing just because they're not dumping their entire net worth into building the next type of solar panel.

Proof that this is substantial:

https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-global-emissions-cdp-study-climate-change

Shell is one of the top contributors to global emissions. For them to start adopting this stance is huge. We just need the rest of them to follow, and we need to allow a business / tax climate that makes it easy for companies to invest money in renewables and alternative energy. The only way we could fuck this up is by adopting some bizarre anarchist-socialist-communist horseshit theory involving forcibly shutting down businesses.

There is a %u201Cgrowing wave of companies that are acting in the opposite manner to the companies in this report,%u201D says Brune. Nearly 100 companies including Apple, Facebook, Google and Ikea have committed to 100% renewable power under the RE100 initiative. Volvo recently announced that all its cars would be electric or hybrid from 2019.

And oil and gas companies are also embarking on green investments. Shell set up a renewables arm in 2015 with a $1.7bn investment attached and a spokesperson for Chevron says it%u2019s %u201Ccommitted to managing its [greenhouse gas] emissions%u201D and is investing in two of the world%u2019s largest carbon dioxide injection projects to capture and store carbon. A BP spokesperson says its %u201Cdetermined to be part of the solution%u201D for climate change and is %u201Cinvesting in renewables and low-carbon innovation.%u201D And ExxonMobil, which has faced heavy criticism for its environmental record, has been exploring carbon capture and storage.