Shell has been formally reporting on sustainability-related performance for 27 years, with the aim of being transparent about activities that are important to investors, governments, and civil society. The Shell Sustainability Report outlines our social, safety and environmental performance in 2023.

In his introduction to the report, Shell’s Chief Executive Officer, Wael Sawan, writes: “In 2023, we made good progress in our goal of creating more value with less emissions. As we continue to deliver the oil and gas that the global energy system relies on, we are reducing the carbon emitted in its production. We are also investing in low-carbon and non-energy products that reduce emissions for our customers.

“We have already achieved some of the commitments made under our respecting nature goal, which we set in 2021. These include reducing fresh-water consumption by 15% compared with 2018 in areas where water supplies are stressed, which we reached ahead of the target date of 2025. We are also making progress in our ambition to become one of the most diverse and inclusive organisations in the world.”

In addition, Shell published its 2023 Payments to Governments Report, in accordance with the UK’s The Reports on Payments to Governments Regulations 2014 (amended December 2015). In line with the Regulations, this report only covers extractive activities and payments equal to or above the £86,000 or equivalent materiality threshold, resulting in payments made to governments in 26 countries being included.