July 22 (Reuters) - Shell and other leading
energy groups have abandoned a six-year-long attempt to define a
net zero emissions strategy after being told that such a
standard would require them to stop developing new oil and gas
fields, the Financial Times reported on Tuesday.
Shell, Norway's Aker BP ( AKRBF ) and Canada's Enbridge ( ENB )
have all quit the expert advisory group of
Science-Based Targets initiative since late last year, the FT
said.
The Science-Based Targets initiative is a leading
assessor of company climate goals. In March, the body had
proposed new rules to better help companies set high-quality
emissions-reduction plans.
The companies quit the initiative as draft standards seen by
the FT stated that the companies should not develop "new oil and
gas fields" once they submitted a climate plan, or from the end
of 2027, whichever was sooner.
The initiative has now "paused" work on the oil and gas
standard citing "capacity considerations", but denied this was
linked to the oil and gas industry departures, saying there was
"no basis in reality for these claims," the FT said.
Shell told the FT that its expert had withdrawn after seeing
a draft standard that "did not reflect the industry view in any
substantive way," while Aker BP ( AKRBF ) told the newspaper it had left
the advisory panel after finding its "ability to influence" the
standard "limited."
Shell, Enbridge ( ENB ) and the Science-Based Targets initiative did
not immediately respond to Reuters requests for comment, while
Aker BP ( AKRBF ) could not be immediately reached.
Reuters could not immediately verify the report.