What does this mean for climate? • This carefully worded ambition concerns the carbon footprint of Shell’s products and does not guarantee any absolute emission reductions; • Halving the carbon footprint by 2050 is insufficient. To meet 1.5˚C CO2 emissions need to be reduced to net-zero by 2050; • It is too risky to bet on negative emissions to save the day; • Shell has repeatedly advised shareholders to vote against shareholder resolutions filed by Dutch Shareholder Activist group ‘Follow This’ that ask Shell to adopt emission reduction targets in line with the Paris Agreement