Our strategy
Shell’s strategy is to deliver more value with less emissions.
Our strategy
Shell’s strategy is to deliver more value with less emissions as we work to become a net-zero emissions business by 2050.
As we navigate the energy transition through the next decade, we will leverage our global footprint, the trust in our brand, and our innovation and technology capabilities to be the energy company that customers and countries choose to be their partner. We are positioning Shell to become the investment case and partner of choice through the energy transition.
Our purpose
Shell’s purpose is to power progress together, by working with each other, our customers and our partners.
Our vision
Our vision* is to be the world's leading integrated energy company – delivering impact at scale, connecting energy and people, matching supply to demand. To realise our vision, we are transforming Shell to be a more focused and competitive business.
More value
More value
We are committed to enhancing value for our investors through disciplined investments, enhanced shareholder distributions and maintaining a strong balance sheet. We are guided by our principles of performance, discipline and simplification. Our focus is on investing in areas where we have competitive strengths, to provide a compelling investment case for our shareholders, now and into the future.
Less emissions
Less emissions
We have set a target to become a net-zero emissions energy business by 2050. We have set climate targets and an ambition, outlined in our Energy Transition Strategy 2024, to help us reach net zero.
We will continue to provide our customers with the energy and other products they need, and we will provide this affordably and reliably, while also increasingly offering them low-carbon energy solutions to help them decarbonise their activities.
We will leverage our competitive strengths, focusing on improving returns from our lower-carbon platforms in areas such as low-carbon fuels, hydrogen, carbon capture and storage and power (both renewable generation and gas-fired). This is creating options for the future, allowing us to scale as customer demand and regulatory frameworks evolve.
Wael Sawan, Chief Executive Officer“We are growing shareholder returns, while working to reduce emissions from our operations and products. We are positioning Shell to win through the energy transition on our journey to become a net-zero emissions energy business by 2050.”
We will deliver more value with less emissions by:
Growing our integrated gas and LNG business
We are investing in our gas production and growing our liquefied natural gas (LNG) business to deliver the secure energy the world needs. LNG is a critical fuel for the energy transition because it is a lower-carbon alternative to coal in power generation and can be easily transported to where it is needed. We aim to reinforce our leadership position in LNG by growing sales by 4-5% a year on average through to 2030.
Sustaining liquids production
We aim to grow production across our combined Upstream and Integrated Gas business by 1% a year to 2030, sustaining material liquids production of 1.4 million barrels a day through to 2030 with increasingly lower carbon intensity. We are focusing our exploration activities in locations where hydrocarbons have already been discovered.
Focusing Downstream, Renewables and Energy Solutions
We are driving cash flow resilience and higher returns through disciplined capital allocation. We are pursuing focused growth in our premium marketing and mobility businesses while streamlining our chemicals portfolio to unlock more value.
We are also building on the lower-carbon platforms we have invested in to enable growth through the energy transition, as customer demand and regulatory frameworks evolve. Our global customer reach and our supply and trading capabilities position us well to deliver the low-carbon solutions people and businesses need.
* A vision statement defines the desired future state of a company rather than a series of firm, binding commitments.
Page last updated: August 6, 2025
Cautionary note
Cautionary note
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this content “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this content refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
Forward-looking statements
This content contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ‘‘anticipate’’; “aspire”, “aspiration”, ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this content, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this content are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F and amendment thereto for the year ended December 31, 2024 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this content and should be considered by the reader. Each forward-looking statement speaks only as of the date of this content. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this content.
Shell’s net carbon intensity
Also, in this content we may refer to Shell’s “net carbon intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.
Shell’s net-zero emissions target
Shell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.
Forward-Looking non-GAAP measures
This content may contain certain forward-looking non-GAAP measures such as adjusted earnings and divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.
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