Shell accelerates its plan to low carbon emission
Shell is accelerating its plan low carbon emission as ruled by Netherlands-based court during the landmark climate case. The giant oil company has acquired Clean energy tech company Inspire Clean Energy.
The tech company Inspire Clean Energy will be entering an agreement to be acquired by multinational oil and gas company Shell. Inspire company signed an agreement to become a wholly-owned subsidiary of the corporation, the B Corp said in a statement, to “rapidly scale its offering of access to sustainable energy.
Inspire will operate under its existing brand within Shell’s Renewables & Energy Solutions business, and its leadership team and employee base will remain in place, Shell said.
Inspire offers renewable energy to customers through services and subscription plans that incentivize customers to manage their energy usage through an app and rewards program.
The clean energy tech company is the only one offering eco-conscious consumers subscription-based access to renewable power. The company works seamlessly with customers’ energy providers to set a flat monthly rate, based on their energy usage over a year, that won’t skyrocket during periods of high use. It’s an incentive that’s easier on wallets and better for the earth.
“We share the belief that renewable energy should be accessible to everyone and Shell’s resources, reach and ownership of many aspects of the energy value chain will help us scale and advance our mission,” Inspire CEO Patrick Maloney said in a statement.
Its mission is to accelerate a zero-net carbon future, and its employees are up for the challenge. The environmental “Avengers” team balances the urgency of building earth-saving technology with the fun of building team rapport through bake-offs and annual retreats.
The acquisition also advances Shell’s “Powering Progress” strategy established in February, to build and scale renewable, low-carbon businesses to become a net-zero emissions energy business by 2050, in line with the Paris Agreement.
“This deal instantly expands our business-to-consumer power offerings in key regions in the U.S., and we are well-positioned to build on Inspire’s advanced digital capabilities to allow more households to benefit from renewable and low-carbon energy,” said Elisabeth Brinton, EVP of renewables and energy solutions at Shell.
Shell company had pledged to accelerate a shift to low carbon emissions after a court verdict in the Netherlands. The company’s chief executive, Ben van Beurden promised in a blog post on Linkedin. He had urged that the firm would take “some bold but measured steps.”
Shell was ordered to cut its CO2 emissions by 45% in a landmark climate case. A panel of judges at the district court in The Hague ruled that the company’s policies on the subject were vague. The judges ruled that Shell should be taking responsibility itself to cut emissions much faster.
The Netherlands-based court added that the giant oil and gas company must comply by 2030. The judges ruled that the Shell group is responsible for its CO2 emissions and those of its suppliers.