Oil giant Royal Dutch Shell is to increase its spending on renewable energy to $1bn (£800m) a year, its chief executive announced as he warned the public’s faith in the industry was “just disappearing”.
Ben van Beurden suggested the public backlash against fossil fuel firms could threaten the industry’s future.
He also said it was essential that countries imposed a price on carbon emissions to help phase out the use of coal and oil, sources of large amounts of greenhouse gases that are driving climate change.
This perhaps surprising message – a request from a business for governments to make their costs higher – was delivered at an energy conference in Texas, Reuters reported.
Well we knew this had to be coming around at some point. After all just about the whole world is now focusing on renewable energy now.
I just can't help but wish Shell and all of their other big oil buddies would have done this twenty five years ago when it would have actually made a big difference.