Shell, Total Still Investing in Fossil Fuels

Aug. 4, 2020

Despite talks of investing in more renewables, Shell and Total are still investing more in fossil fuels.

Aug. 4, 2020—A new report found that while Shell and Total aim to invest in more renewables, the two companies are still investing more in fossil fuels, according to a press release.

The Institute for Energy Economics and Financial Analysis (IEEFA) found that while Shell and Total are shifting toward more renewable energy technologies, 90 percent of Shell and Total's capital continues to be spent on fossil fuels

While the two companies aim for between 60 to 65 percent reduced net carbon footprint by 2050, report author Clark Butler says both Shell and Total are well short of their sustainable energy targets without a major shift of investment from fossil fuel assets to renewable energy.