Wael Sawan, the chief executive of Shell, intends to increase the company’s investment in renewable energy projects by making it more selective.
He stated in a Financial Times interview that Shell would no longer “pretend to lead” in areas of the energy transition in which it did not have the necessary skills and knowledge.
In areas where Shell lacks a unique capability, such as renewable power generation, it would aim to work with partners or not invest at all, Sawan said.
He told the newspaper: “This is really much more of a selective approach to where we are going to lead.”
He told the Financial Times: “We need to get leaner, we need to get more focused, we need to get more disciplined.
“That inevitably will include choices around where we are going to operate but also importantly how we operate.”
(Source: Financial Times)