Shell says China needs to up its climate game: press
Global major Shell says China needs to take quick action to reach carbon neutrality, and is recommending it increase power generation by 60%, the Reuters news agency reported January 17.
China has declared plans to reach peak emissions by 2030, but has not yet revealed a 2060 carbon road map, although it has targeted a carbon price of 1,300 yuan (US$204.79)/metric ton by 2060, compared to an expected price of 300 yuan/mt in 2030.
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“With early and systematic action, China can deliver better environmental and social outcomes for its citizens while being a
force for good in the global fight against climate change,” said Mallika Ishwaran, Shell International’s chief economist.
Hydrogen is expected to meet 16% of China’s energy consumption in 2060, he said, with heavy industry and long-distance transport seen as top hydrogen consumers.
Shell is among the largest global investors in China’s energy sector, with assets in natural gas production, petrochemical manufacturing and retail fuel sales.