Shell to increase investment in renewable energy to $1 billion a year by the end of the decade

By Ron Bousso, Reuters.

The oil and gas industry risks losing public support if progress is not made in the transition to cleaner energy, Royal Dutch Shell Plc Chief Executive Ben van Beurden said on Thursday.

The world's second largest publicly-traded oil company plans to increase its investment in renewable energy to $1 billion a year by the end of the decade, van Beurden said, although it is still a small part of its total annual spending of $25 billion.

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