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Oil companies can only decarbonize as fast as the rest of the economy: Shell Canada

  • Oil and gas companies such as Shell and Suncor Energy are facing scrutiny from environmentalists and politicians for their focus on longer-term energy transition and their current profitability.
  • The CEO of Shell, Susannah Pierce, emphasizes that the speed of global decarbonization relies on the transition of the entire economy and not just the fossil fuel sector. She highlights the need for consistent, pan-Canadian framework for decarbonization.
  • Pierce argues that while oil and gas companies must reduce their own emissions, the responsibility for the pace of the global energy transition should not be solely placed on their shoulders. Government incentives are crucial for transitioning to a lower-carbon economy across industries like cement, steel manufacturing, shipping, and aviation.
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  • 88% of the sources lean Left
88% Left

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Chek news broke the news in Victoria, Canada on Friday, September 15, 2023.
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