12:03 PM EDT, 03/12/2024 (MT Newswires) -- Shell (SHEL) may soon slow the pace of its carbon-reduction efforts, unnamed people familiar with the matter told Bloomberg News.

The energy company is scheduled to issue an update on Thursday detailing its work cutting emissions of greenhouse gases to meet a goal of net zero by 2050, with the sources telling Bloomberg any changes to its ongoing efforts likely would be included in the new report this week.

Some of Shell's peers already have been scaling back some of their more aggressive climate goals, with BP (BP) last year saying it would likely produce more oil and natural gas through the end of the decade than previously expected, resulting in higher emissions of carbon dioxide and other greenhouse gases. US energy companies also have largely continued to focus on near-term fossil fuels production.

Shell did not immediately respond to a request for comment from MT Newswires on Tuesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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