Oil giant attacked for green hype

There is more hype than substance to the claims made by oil giant Shell that it is moving towards renewables, says Greenpeace. Although renewable energy is described by Shell's managing director, Jeroen van der Veer, as "our natural domain as a business," Greenpeace challenges the truthfulness of this claim and suggests that the oil company's greening is no more than wafer thin. Greenpeace points out that while Shell's total capital expenditure on fossil fuels over the past five years was 43 billion, its spending on renewables was just $500 million, or just 0.4% of annual business turnover; and for every $1 Shell is planning to spend per year on renewables, oil and gas are to get $77. "Despite recent shifts in company attitudes to climate change and renewables, evidence suggests that the business trajectory has not changed," says Greenpeace. "The concern remains that the intent of Shell is to change the management of its reputation, rather than its business operations."

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