Monitoring Policy Making at the United Nations |
| ||||||||||||
Carbon Taxes Shell beefs up green moves
The Guardian (London) November 19, 1997 SHELL is set to bolster its efforts to acquire a green image by pulling out of coal production and backing an international plan for carbon taxes to combat global warming.
Cor Herkstroter, chairman of Royal Dutch Shell, disclosed yesterday that the group's coal assets are under strategic review with the aim of disinvestment.
The group has coal interests in Australia and Venezuela but, after selling its South African assets, Shell relies on coal for less than 1 per cent of its pounds 5.3 billion earnings; it produces 12 million tonnes a year. Mr Herkstroter made plain he backs world moves towards "decarbonisation" - getting rid of one of the biggest causes of the greenhouse effect.
The Shell chairman called on world leaders to back a target of around a 5 per cent cut in carbon dioxide emissions by the year 2010 when they meet early next month for a global warming summit in Kyoto, Japan. The European Union has proposed a 15 per cent cut while the US has so far insisted it will only agree to hold emissions to their 1990 levels.
On Monday Shell unveiled a deal with Gazprom, the Russian gas behemoth, which could eventually supply the Anglo-Dutch firm with 250,000 barrels a day or a tenth of its current energy output. But, long -term, Mr Herkstroter sees the future in renewables like wind and solar power.
The Government's drive to reduce CO2 emissions was boosted last night when the Chemical Industries Association [UK]agreed to cut energy consumption per tonne of product by 20 per cent of the 1990 level by the year 2005.
FAIR USE NOTICE: This page contains copyrighted material the use of which has not been specifically authorized by the copyright owner. Global Policy Forum distributes this material without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. We believe this constitutes a fair use of any such copyrighted material as provided for in 17 U.S.C ß 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.
