Shell's 'new' climate strategy raises a lot of red flags:

* A lot of old stuff repackaged as new
* Continued reliance on weak intensity targets & a failure to recognise that absolute reductions are needed
* Excessive reliance on CCS & natural solutions https://www.shell.com/media/news-and-media-releases.html

As @rouselouise points out the IPCC P1 pathway sees 46% reduction in oil from 2020 levels needed by 2030

In contrast Shell plans to set a reduction in their *carbon intensity* of 20% by 2030

i.e. not an absolute reduction in output and/or emissions

Analysts at Jefferies seem to agree that not much has changed & that details are missing https://twitter.com/emilygosden/status/1359793116849590275

Shell will offer a 3yr advisory vote on its climate strategy

We should expect more big polluters to do so

They're a great defence mechanism agst more ambitious climate resolutions/requests

Cos can say their hands are tied, as they've just received a 3yr mandate from investors