In an interview with the
“The reality is, the energy system of today continues to desperately need oil and gas,” Sawan said. “And before we are able to let go of that, we need to make sure that we have developed the energy systems of the future — and we are not yet, collectively, moving at the pace (required for) that to happen.”
The comments conflict with the recommendations of climate scientists and
Even
Guterres has said achieving the U.N.’s goal of limiting global temperature increases to 1.5 degrees Celsius above pre-industrial levels was still possible, but only if countries accelerate their efforts to cut carbon emissions.
“Investing in new fossil fuels infrastructure is moral and economic madness,” Guterres said in April. “Such investments will soon be stranded assets — a blot on the landscape and a blight on investment portfolios.”
Sawan said he disagreed with that position.
“I think what would be dangerous and irresponsible is actually cutting out the oil and gas production so that the cost of living — as we saw just last year — starts to shoot up again,” he told the
Sawan added that the transition to renewable energy must be “globally responsible,” so that it doesn’t favor one part of the world over another.
As energy prices soared last year following Russia’s invasion of
Sawan took over as Shell’s chief executive in January. Under his predecessor,
Sawan also took aim at the British government’s shifting tax and energy policies, saying they risked making the
The
Sawan also noted that energy companies that list their shares in the
Although he said
“I would never rule out anything that could potentially create the right circumstances for the company and its shareholders,” he said. “Ultimately, I am in the service of shareholder value.”
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