Shell’s carbon compliance costs to double next decade

Oil major projects annual cost of $1.5bn in 2032 as governments develop emissions regulations

Shell expects the amount it pays annually to comply with emissions trading schemes and other carbon regulations around the word to nearly double, to around $1.5bn, in 2032 from a forecast of $0.8bn this year. “Shell’s annual carbon cost exposure is expected to increase over the next decade because of evolving carbon regulations,” the oil major says in its 2022 annual report, released this week. The compliance cost estimates are based on Shell’s forecast equity share of emissions from operated and non-operated assets, including joint ventures and associates. $493mn – Shell’s spend on EU ETS compliance in 2022 The projections also rely on Shell’s internal carbon cost forecasts. In Euro

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