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Shell To Accelerate Drive For Net-Zero Emissions

Royal Dutch Shell Plc. (RDS-B,RDSB.L,RDSA.L,RDS-A) said that it will accelerate its transformation into a provider of net-zero emissions energy products and services, powered by growth in its customer-facing businesses.

The company has maintained the progressive dividend policy, increased dividend per share by around 4% per year. It has retained near-term annual cash capital expenditure of $19 billion- $22 billion.

In the near term, the company expects to maintain underlying operating expenses of not more than $35 billion, and pursue divestments averaging $4 billion a year.

Shell set out details of how it will achieve its target to be a net-zero emissions energy business by 2050. It will continue with short-term targets that will drive down carbon emissions as the company make progress towards its 2050 target.

The company will seek to have access to an additional 25 million tonnes a year of carbon, capture and storage capacity by 2035.

Shell aims to build material low-carbon businesses of significant scale by the early 2030s.

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