This comes on the heels of Sweden dumping renewable energy too.
Shell’s (SHEL.L) head of renewable generation Thomas Brostrom is leaving the company, a spokesperson said on Friday, weeks after CEO Wael Sawan scaled back its energy transition plans.
Brostrom joined Shell from offshore wind giant Orsted in August 2021 to head offshore wind as the company planned to rapidly grow its wind and solar operations as part of a strategy to cut greenhouse gas emissions under previous CEO Ben van Beurden.
Brostrom quickly became head of renewables in February 2022 after Elisabeth Brinton stepped down less than two years after taking the reins.
Chief Executive Sawan, who took office in January, announced on June 14 a shift back to oil and gas production while paring back investments in renewables following investor pressure to focus on the most profitable businesses.
The costs associated with construction and maintenance of wind turbines, for example, is probably a large reason why Shell is backing away. None the less, this is good news and the company should not bend to the demands of climate cultists while missing opportunities to explore and extract more fossil fuel opportunities.
The company probably learned they can never appease the climate cult when some green mobsters showed up at Shell’s annual meeting obviously hoping to intimidate Shell’s management.