RATING
Outlook
Negative
SECTOR
Gas & Petroleum Extraction
Chief Sustainability Officer
T: N/A
E-mail: N/A
Stock Exchange and Ticker
LON: SHEL
Website
Contact
T: 0800 731 8888
E.mail: N/A
Listing
- #49 Global 2000 (2022)
Awards
Europe, Middle East and Africa
Universum Most Attractive Employers
Glassdoor Best Places to Work
Times Top 50 Employers for Women
First Employers Most Popular Employers
Intermediair Favourite Employers
Times Top 100 Graduate Employers
TARGETjobs Most Popular Graduate Recruiter in Energy and Utilities
The Guardian UK 300 Most Popular Graduate Recruiters
Americas
2020 Best Corporations for Veterans Enterprises
2020 Secretary of Defense Employer Support Freedom Award Recipient
2020 Top Veteran-Friendly Companies, US Veterans’ Magazine
2020 Top 50 Employer, STEM Workforce Diversity Magazine
2020 Minority Engineer Magazine Top 50 Employer (Rank #10)
2020 Forbes’ Best Employers for Diversity
2020 Canada’s Best Employers
2020 Top 50 Employer, Careers and the disABLED Magazine
Universum Most Attractive Employers
Glassdoor Best Places to Work
Canada’s Best Employers for Recent Graduates 2019 by The Career Directory
Canada’s Best Diversity Employers
Alberta’s Top 70 Employers
Canada’s Top 100 Employers
Top 100, Military and Veteran Friendly Employer
Top 50 Employer, Minority Engineer Magazine
Forbes’ Best Employers for Women
Glassdoor’s Best Places to Work – Top CEO’s
Gold-level Military-Friendly Employer
Top 50 Employer, Woman Engineer Magazine
Asia Pacific
HR Excellence Awards 2022 Malaysia: Workforce Flexibility and Employer Branding
Top Companies 2022: The 15 best workplaces to grow your career in the Philippines
Top Companies 2022: The 15 best workplaces to grow your career in Malaysia
Universum Most Attractive Employers
Glassdoor Top 25 Companies for Work-Life Balance
Malaysia’s 100 Leading Graduate Employers
Life at Work Best International Organisation
Randstad Most Attractive Employer Awards
Randstad Employer Brand Sector Award
Jobstreet.com Top 10 Companies
LinkedIn Top 25 Companies to Work for
Aon Hewitt Best Employer Award
AVTAR – 100 Best Companies for Women
People Matters League Awards – Talent Acquisition
Graduates Choice Award
Revenue
€347.9B
Market Capitalisation
€168.82B
Employees
86.000
Content source
Shell P.L.C Sustainability Report
Evaluation of Shell P.L.C
Never a stranger to controversy over the years, sued several times for humanitarian and environmental crimes, the oil multinational corporation Shell PLC is coming increasingly under scrutiny. The company is in the crosshairs for their responsibility in selling climate- harmful products, their insufficient liability in climate change related disasters, and their being too lightly taxated vis a vis their outstanding profit, which reached an unprecedented 350 billion euros in 2022.
Shell set a goal to halve its scope 1 and 2 GHG emissions by 2050. They are on track to reach the objective, both through innovation and energy efficiency as well as through carbon credits and carbon capture storage technology. This is a commendable result.
However, there is no clear mention of how their scope 3 emissions will be curbed. There is, on the contrary, a strong emphasis on Shell´s efforts on scope 1 and 2 emissions, hiding the issue of scope 3. This can definitely be categorised as greenwashing, since scope 3 emissions (customer use of the end product, e.g. burning fuel in the car engine) for the oil and gas sector amount to the majority of their emissions, and also to the majority of GHG emissions on the planet. In relation to this problem, a Dutch court in 2021 unprecedentedly ruled that Shell is liable for the externalities caused to the planet by their products´ emissions (scope 3), and must take accountability for them.
Yet the company makes no mention of how they are compensating for them. In fact the company claims that they appealed the Den Haag ruling, as their demands of compensating for scope 3 emissions are unrealistic.
Finally, Shell has been known for dubious ethical purchases of crude oil, the latest being a large purchase of Russian oil at a bargain price on March 7, 2022, in the wake of the Ukrainian war, at a time where the international oil market was distancing itself from Russia and Gazprom.
For all the above mentioned reasons, Shell was rated a D.
Sustainability Scorecard
Shell P.L.C Company Activity
Shell PLC Activity:
Shell PLC is one of the “Big Oil”, the world’s largest oil and gas extraction companies, with an annual revenue averaging above 300 billion euros in the last 10 years. Shell PLC is a publicly traded petroleum corporation, engaging in crude oil and natural gas exploration, production, refining, and marketing in more than 90 countries around the globe.
Shell PLC was named Royal Dutch/ Shell Group from 1907 until 2005, when it became unified as Royal Dutch Shell plc. Until its unification (2005), the firm operated as a dual-listed company: the British and Dutch companies maintained their legal existence and separate listings but operated as a single-unit partnership.
From 2005 to 2022, the company had its headquarters in The Hague and its registered office in London. Similarly shares for the two listings on the stock market remained separate. In January 2022, the firm merged the two shares, moved its headquarters to London, and changed its legal name to Shell plc. The headquarters after the latest merging are in London, UK.
Shell P.L.C Sustainability Activity - As per company declarations
Shell PLCholds that their company mission is “To power progress together by providing more and cleaner energy solutions.” This mission is declined onto four pillars. First of all, their core pillar is achieving net-zero emissions, working with their customers and across sectors to accelerate the energy transition to net-zero emissions. Most of their report and sustainability communication is dedicated to their path toward emission reduction. Emission reduction is operated mainly through but also through carbon offset operations such as tree planting.
Secondly, Shell is committed to working in the favour of the environment, by reducing waste and making a positive contribution to biodiversity.
The third pillar is social, that is improving people’s lives through Shell´s products and activities, contributing to local communities and championing inclusion as an employer, as highlighted by the company´s numerous awards in that aspect.
Finally, the company is committed to create value for its shareholders, through a dynamic portfolio and disciplined capital allocation.
Regarding the curb of their scope 1 and 2 emissions, which is their main sustainability goal, Shell is transforming their energy production processes, diversifying their portfolio of investment into sustainable, low carbon projects and offsetting some emissions through carbon credits. In October 2021, we set a target to halve the emissions from our operations (Scope 1), plus the energy we buy to run them (Scope 2), by 2030 compared with 2016 levels on a net basis. To decarbonise their operations, they:
- make portfolio changes.
- Are decommissioning plants, divesting assets, and reducing our production through the natural decline of existing oil and gas fields; they are also transforming their remaining integrated refineries into low-carbon energy and chemicals parks, which involves decommissioning plants;
- Are improving the energy efficiency of their operations; using more renewable electricity to power our operations;
- developing carbon capture and storage (CCS) for their facilities.
- The company also claims to integrate high-quality carbon credits to offset scope 1 and 2 emissions from their operations.
Certificate & Labels, Standards and Frameworks
- Climate Action 100+ (CA100+)
- IPIECA Sustainability Reporting Guidance
- Global Reporting Initiative (GRI)
- Task Force on Climate-related Financial Disclosures (TCFD)
- Sustainability Accounting Standards Board (SASB),
- World Economic Forum´s Stakeholder Capitalism Metrics
- founding member and a signatory of the United Nations Global Compact.
Shell P.L.C in the news: Press Reviews and Social Media
The overall image emerging from independent media, from CNN to the wall street journal, is one of a company where means justify the end. Albeit the company has been recently sanctioned for some of their actions, there remains justice to be claimed, for instance on the responsibility and financial compensation.
Further readings:
Shell Buys Russian Oil at a Bargain Price (March 2022). The wall Street Journal. shell-buys-russian-oil-at-bargain-price-2ZljvO2HQlmPm5d5aAgG
Highlights from Shell P.L.C Sustainability Report
Achievements
- Overall the plan is well developed
Weaknesses and Setbacks
- Scope 3 emissions are mentioned nowhere. Scope 3 emissions (in this case, fuel or gas being burnt and releasing GHG in the atmosphere) are by far the largest slice of carbon emissions for the oil and gas sector. No matter how close the company gets to net zero with their scope 1 and 2 emissions, their very source of profit needs to transition from fossil fuels to another source of (renewable) energy for them to boast to be sustainable. https://reports.shell.com/sustainability-report/2022/our-performance-data/greenhouse-gas-and-energy-data.html
Targets vs Progress Reported
| Target | Results reported |
|---|---|
| No quantitative and clear target set |
