Shell (RDS.A) Fast Tracks 2050 Emission Reduction Target
Zacks Investment Research | Feb 16, 2021 02:54AM ET
Royal Dutch Shell (LON:RDSa) plc. MSFT to develop advanced solutions for achieving net zero-emission. Shell’s objective to create clean and efficient energy with Microsoft’s expertise in high technology, such as AI, cloud computing and the IoT led to a number of resourceful initiatives to minimize carbon footprint as well as develop a safer and cleaner working environment.
Additionally, last month, management announced that the company will purchase the entire stake in Ubitricity, one of the largest electric vehicle (EV) charger providers in the UK in terms of individual devices in operation.
With this deal, Shell further strengthens its position in the rapidly-increasing on-street EV charging market, offering critical competencies and helping the company better its overall EV charging offer.
Shell’s expansion into the EV chargers business is part of its plans to tap the growing popularity of pure energy resources and lower the company’s carbon footprint. The company expects electricity demand to rise in the coming years with more people opting for electric vehicles and switching to cleaner energy resources.
This apart, Shell is collaborating with the commercial vehicle sector to help ensure decarbonisation pathways through Shell E-Fluids as the road transport sector emits 8% of global energy-related carbon dioxide. Per Shell, both battery-electric vehicle (BEV) and fuel-cell electric vehicle (FCEV) solutions have a major role to play as the paths and timelines for road freight carbon depletion will differ by geography, sector and duty sector.
h3 Company Profile /h3Shell is one of the primary oil majors, which constitute a group of U.S. and Europe-based energy giants with global operations. The company is fully integrated as it participates in every aspect related to energy from oil production to refining and marketing.
h3 The Hottest Tech Mega-Trend of All/h3Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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