ACCR Critiques Shell's LNG Growth Strategy in Latest Report
The ACCR warns that Shell's LNG growth report lacks clarity on demand assumptions and climate commitments amid rising investor scrutiny. The report, responding to a shareholder resolution, projects LNG demand growth of 45-85% by 2050 but fails to sufficiently address competition from renewables and the resilience of its portfolio beyond 2029. Concerns remain about Shell's alignment with its 2050 net-zero goals.
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The Australasian Centre for Corporate Responsibility (ACCR) critiques Shell's latest LNG report for not adequately addressing weaknesses in its growth strategy. The report, which responds to a shareholder resolution from major pension funds managing $86bn in assets, forecasts a 45-85% increase in global LNG demand by 2050.
However, ACCR highlights that the report does not convincingly demonstrate how LNG can compete with cheaper renewables or clarify its financial resilience beyond 2029. Additionally, uncertainties about the compatibility of LNG with Shell's 2050 net-zero goals were raised, particularly regarding uncontracted sales after 2030.
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