We are aiming to be net zero across operations, production and sales. By 2050 or sooner, we aim to get to net zero:
In 2022, our transition growth investment was $4.9bn compared to $2.4bn in 2021 – this was around 30% of total capital expenditure for the year, up from around 3% in 2019.
As we pursue our net zero ambition, we see our annual transition growth investment reaching $6-8 billion in 2025 and are aiming for it to reach $7-9 billion in 2030.
As announced in February 2023, going forward we are targeting increasing the proportion of our annual capital expenditure invested in transition growth engines to more than 40% of total spend by 2025 and aiming for it to rise to around 50% by 2030.