Royal Dutch Shell Continues to Invest in Clean Energy

Shell pic

Shell
Image: Shell.com

David Lawrence is a former Shell executive with an extensive background in energy, finance, oil and gas initiatives and energy strategy and scenarios. Presently guiding Lawrence Energy Group, LLC, David Lawrence utilizes his experience at Shell to focus on targeted strategies in the energy transition, including biosequestration, natural gas, mature field redevelopment, renewable energy and energy efficient fossil fuels.

In an interview during the Bloomberg New Energy Finance Summit, the head of Royal Dutch Shell’s integrated gas and new energies division discussed the firm’s acquisition-driven shift to lower-carbon energy sources. A particular emphasis is on boosting the role of electricity in energy consumption a sector with significant potential to both growth transform into one that is carbon free.

While electricity’s current share of final energy consumption stands at 22 percent, Shell’s internal analysis forecasts the rate to reach more than 50 percent by 2070. The rapid increase will be attributed to significant energy consumption in industrial processes, cooking, and residential heating, and transportation.

Shell has already moved into the retail electric utility business in Britain and has growth in the United States in its sights. At the same time, it has acquired firms such as Singapore’s Cleantech Solar, which creates solar farms in Asia and Greenlots, a German startup focused on electric-vehicle charging.

DIY Carbon Tax – A Personal Clean Energy Investment

David Lawrence has brought his extensive experience in the energy industry to a number of roles, including several leadership positions at Shell. Holding a PhD in geology and geophysics from Yale University, David Lawrence has worked around the world on everything from deep water exploration and production, to shale gas to uranium prospecting to wind energy to producer finance. He recently served as Executive Vice President Global Exploration for Royal Dutch Shell and Executive Vice President Exploration and Commercial at Shell Upstream Americas and currently lends his experience and perspective to his climate- and energy-focused blog via The Energy Collective http://theenergycollective.com

Recently, Mr. Lawrence proposed a simple, personal Do It Yourself Carbon Tax, imposed the tax on himself, and challenged others to fo the same. With the aim of improving his energy efficiency, increasing his clean energy investments, and combating energy poverty, he set out with a three-part plan to reduce his carbon footprint. In 2015, he will work to reduce his CO2 emissions by 10 percent, and will continue to strive for a 50 percent reduction over the next ten years. Additionally, he will comply with a self-imposed carbon tax, directing these funds into an investment account targeting clean energy developments. The plan also includes regular contributions to organizations dedicated to curbing energy poverty worldwide. Lawrence’s DIY Carbon Tax enables participants to reduce their energy use, save money, invest for the future and create real value and help those living in energy poverty.

Encouraging readers of his Energy Collective blog to join him in this endeavor, Mr. Lawrence outlined the steps individuals can take to apply a carbon tax to their own lives. Those interested in reducing carbon footprints should first determine their annual CO2 output using one of many free online calculators. Afterwards, they should establish both their carbon reduction goals and personal CO2 tax rate before determining which clean energy companies, research institutions, products, and services they will invest.