Charles O. Holliday and Ben van Beurden gave speeches at Royal Dutch Shell's 2019 Annual General Meeting. Holliday emphasized that Shell must meet growing global energy demand while addressing environmental impact. He outlined Shell's three strategic ambitions: being a world-class investment, thriving through the energy transition, and maintaining its social license to operate through trust. Van Beurden then discussed how Shell is innovating faster to commercialize new technologies and make progress on its ambitions.
At Hofstra’s Frank G. Zarb School of Business, educating
students both inside and outside the classroom is our
top priority, and the Executives in Residence program is
one of the many ways we offer students a comprehensive
educational experience.
Our executives in residence, who maintain offices at the
Frank G. Zarb School of Business, enable students to
benefit from their knowledge, experiences, and resources.
Their areas of expertise include finance, management,
marketing, technology, and education, among other
industries.
In addition, our faculty have the opportunity to work
in partnership with these experts to organize events,
collaborate on research projects, and provide special
classroom presentations for students.
At the International New York Times "Energy for Tomorrow" conference in Kuala Lumpur, Malaysian Prime Minister Najib Razak said fast-developing nations have an important role to play in driving climate action. Here are his prepared remarks.
More: http://inytenergyfortomorrow.com
http://dotearth.blogs.nytimes.com
Prashant Modi: Energy Conservation Tips May Surprise Youprashant-modi
Prashant Modi has always played active role in Industrial bodies and organizations that work to enhance growth of businesses on Indian and International platforms. Prashant Modi is a member of the Environment Task Force Committee of the Federation of Indian Chambers Commerce and Industry. . After joining Y.K. Modi group in 1996, Mr. Modi was bestowed the responsibility of managing the day to day operations of GEECL. He was instrumental in getting GECCL listed on the London Stock Exchange in 2005. Know More http://www.prashantmodi.in
a complete case study on General Electric
a complete history
a complete development in GE and complete CEO span and their work and their achievement for GE.
and how it reaches from initial to November 2016
Early Life
Job at Train Platform
First Invention (Automatic Telegraph Tepeater-1864)
Contract with New York Electrical Firm-1869
Edison’s Electric Light Company
Commercial Power Plant
At Hofstra’s Frank G. Zarb School of Business, educating
students both inside and outside the classroom is our
top priority, and the Executives in Residence program is
one of the many ways we offer students a comprehensive
educational experience.
Our executives in residence, who maintain offices at the
Frank G. Zarb School of Business, enable students to
benefit from their knowledge, experiences, and resources.
Their areas of expertise include finance, management,
marketing, technology, and education, among other
industries.
In addition, our faculty have the opportunity to work
in partnership with these experts to organize events,
collaborate on research projects, and provide special
classroom presentations for students.
At the International New York Times "Energy for Tomorrow" conference in Kuala Lumpur, Malaysian Prime Minister Najib Razak said fast-developing nations have an important role to play in driving climate action. Here are his prepared remarks.
More: http://inytenergyfortomorrow.com
http://dotearth.blogs.nytimes.com
Prashant Modi: Energy Conservation Tips May Surprise Youprashant-modi
Prashant Modi has always played active role in Industrial bodies and organizations that work to enhance growth of businesses on Indian and International platforms. Prashant Modi is a member of the Environment Task Force Committee of the Federation of Indian Chambers Commerce and Industry. . After joining Y.K. Modi group in 1996, Mr. Modi was bestowed the responsibility of managing the day to day operations of GEECL. He was instrumental in getting GECCL listed on the London Stock Exchange in 2005. Know More http://www.prashantmodi.in
a complete case study on General Electric
a complete history
a complete development in GE and complete CEO span and their work and their achievement for GE.
and how it reaches from initial to November 2016
Early Life
Job at Train Platform
First Invention (Automatic Telegraph Tepeater-1864)
Contract with New York Electrical Firm-1869
Edison’s Electric Light Company
Commercial Power Plant
1.As a socially responsible Shell shareholder, it would be in .docxpaynetawnya
1.
As a socially responsible Shell shareholder, it would be in my best interest, and in the interest of the Earth, to ensure their mission is enacted in a sustainable manner. The Triple-Bottom-Line approach to Corporate Social Responsibility teaches that we must keep three elements in mind: profit, people, and planet. I love the triple-bottom-line philosophy because it covers a good deal of surface area with respect to: preserving the planet, satisfying the needs of people, and ensuring profitability. All three elements must be kept in a relatively balanced weight, otherwise its usefulness is nominal in nature only, and not in essence. John Elkington coined the phrase in 1994, and “A key challenge with the triple bottom line, according to Elkington, is the difficulty of measuring the social and environmental bottom lines, which necessitates the three separate accounts being evaluated on their own merits (Investopedia). The main problem with keeping a corporation’s culture fixated on profit, people, and planet equally is that it’s not as easily quantifiable to pin down social effects and relative preservation practices. I believe it all ties together, because positive social and environmental policies, while admittedly not easily measured, come back and lead towards better profits down the line. Integrating these key issues into corporate governance will ensure less accidents happen which can damage a company’s brand.
In their own words, Shell’s sustainability approach is thus, “We are committed to protect the environment, respect our neighbors, cause no harm to people, and help the world move towards a lower-carbon future” (Shell.com). As a socially responsible shareholder, I would ask for complete revenue transparency, and urge them to seek out new innovations and R&D in renewable energy sources to maintain a long-term competitive edge in the fuel industry.
Oil companies may indeed stay afloat and even reap a bounty over the short-term in profit margins, while ignoring the social and environmental effects they have sown. The thing that corporate executives need to understand, which some seem to, and some seem to not, is that sooner or later their reputation will plummet, or worse. Worst case scenario would be as in the case of the BP Deepwater Horizon oil spill in the Gulf of Mexico. Investments need to be made in preventative measures to ensure that never happens again.
I understand things from the view of the big oil guys. They want a steady flow of profit, and they rightly justify what they do because the world’s population is indeed expanding, and many in developing countries require the infrastructure and power to operate in the modern age. They argue that we must balance our moral obligations of providing energy access to all, and in combating climate change. I say that an energy company such as Shell needs to be held to an even higher standard than other companies, due to their niche in the fossil fuel in ...
Canadian Oil Sands: The lesser of several evilsWayne Dunn
The overall industry social license for the Canadian Oil Sands sector is under attack internationally and domestically. This piece explores that challenge and the role that government action and inaction has played in it.
To keep updated on postings and events go to www.csrtraininginstitute.com and sign up for the newsletter. If interested the CSR Knowledge Centre http://bit.ly/CSRknowledge contains a series of short, pragmatic articles on CSR Strategy, Management and related areas.
Constructive Effective Buisness Mesages.docx
Constructive Effective Business Messages
VIC LUNA
Com/295
April 17, 2017
University of Phoenix
Running head: CONSTRUCTIVE EFFECTIVE BUISNESS MESSAGES
1
CONSTRUCTIVE EFFECTIVE BUISNESS MESSAGES
2
Constructive effective Business Messages
There are lots of ideas in today’s marketing regarding products, and services in a global environment. All oil and gas organizations need infrastructure and maintained with in their prospective companies. We will address services with in the Oil, and gas industry identifying the rise of the product as well as the fall of the product. Also, being covered will be the audiences that will be attracted to the services since different generations play a key role in the Oil, and gas industry. We will also be identifying channels of communication in trying to gain attract from the customer. It is predicted that oil will be back on the rise and money to made, now is the time to invest.
The company will put together a new construction & maintenance plan to carry out for the customer to properly schedule drilling rigs set for the physical year’s budgets. We will also provide budgetary numbers for all materials needed to complete the drilling program within the guidelines of the scope of work provided. Our company will also provide a maintenance plan for the up keep of existing oil, and steam producing wells. Steam injecting oil from the ground will be an enhancer for you company since this is a fast and reliable source to producing oil. Steam is injected into the breaking up heavy crude oil making the well easy to pump out oil. Our company will be able to produce a vast amount of steam injector header in a short period of time therefore being able to produce double the amount of current production. This company has the financial capital to endure all up-front cost of any project provided. Anything additional cost that may accrue from faulty work or deviation from drawings without prior approval our company will bear the burden of all additional cost. The company is held to a standard amongst our shareholders as well as other big companies, so we know how important it is to perform at a maximized level to meet, and exceed expectations leaving no questions to be answered on the table at the end of the day. Scheduling will play a key factor for both sides since meeting deadlines will be critical. Daily, and weekly updates will be given to project management to show the flow of productivity as well as any obstacles that may lie ahead since this can cause delays in critical paths to completions with in the schedule. If our company comes across a challenge, it is in the best interest of both parties to be upfront and honest so there is no delays with meeting the deadlines that have been set forth on both sides. Dishonesty can damage a relationship between a business and customer with in a blink of an eye also causing exclusions from other potential bidding with in the .
Este artículo considera algunos de los desafíos que enfrentan los ingenieros y la industria de la tubería como lo experimentamos negocio y el cambio social, y esperamos que cambiar algunas de nuestras prácticas de ingeniería de la tubería.
Estos desafíos van desde el mantenimiento de nuestros estándares de seguridad a las tecnologías que fomentaban para permitir la reducción de costes. Sin embargo, como una industria fracasaremos todos nuestros desafíos técnicos si no mantenemos nuestra mejor personal, y administrar de manera efectiva.
Por lo tanto, este artículo considera algunos de los cambios necesarios en el pueblo y parte de gestión de nuestra industria, antes de desafiar las prácticas actuales de construcción de tuberías básicas.
Progressive companies around the world are developing products and services that will revolutionise industries and deliver transformative change for society and our planet. These solutions are driving new business growth while significantly reducing emissions towards a low-carbon, sustainable future for all.
Accelerating and scaling up implementation across sectors and borders, however, will require a higher level of collaboration than we have ever seen before, between business, government, and NGOs. The Business for the Environment (B4E) COP17 Dialogue aims to facilitate this, bringing stakeholders together to forge new partnerships and take real action on climate change. Leading the way and powering ahead for a clean industrial revolution.
A. About the company and the Sustainability Initiatives
Royal Dutch Shell PLC, which is more commonly known as Shell, founded in the year 1907, is a group of global energy and petrochemical companies employing more than 80,000 people in more than 70 countries. The organization was formed as a result of the merger of Royal Dutch Petroleum Company and Shell Transport and Trading Company Limited. The company is currently headquartered in The Hague, Netherlands, and Incorporated in England and Wales. Forbes Global 2000, in the year 2019, ranked Shell as the 9th largest company in the world, the largest company outside the PRC and the USA, as well as the largest energy company in the world. Shell also topped the ranking of Forbes Global 500 in the year 2013. Shell is a public limited company with its shares listed on Euronext Amsterdam, London Stock Exchange, New York Stock Exchange, and Philippine Stock Exchange. Its primary listing is on the London Stock Exchange and is a part of the FTSE 100 Index.
Shell has been engaged in vertical integration and is now present in every area of the O&G industry. Shell is actively engaged in the exploration, production, logistics, distribution, power generation, petrochemicals, and commerce. Shell has also ventured into renewable sources of energy such as hydrogen, wind, bio-fuel, and energy-kite.
Shell has divided its operations into different businesses:
Upstream: This organisation is engaged in the exploration and extraction of crude oil, natural gas, and natural gas liquids. Marketing and transporting of Oil and Gas are also done by this division.
Integrated Gas: This organisation is engaged in the management of LNG activities and the production of GTL fuels. It also includes the exploration for and the extraction of natural gas, and the operation and maintenance of the infrastructure that is necessary to make gas available in the market.
New Energies: This organisation is future-focused. It is engaged in the exploration of new opportunities and investment in commercially viable areas. Its main focus is on alternative sources of energy for transport such as hydrogen, bio-fuel, and electricity. Wind and solar energy are also areas of focus.
Downstream: This organisation is engaged in the creation of an integrated value chain that refines and trades crude oil and others into different products, which are then sold all around the globe. The products include petrol, diesel, aviation fuel, sulphur, heating oil, marine fuel, bio-fuel, lubricants, and bitumen. In addition to these, petrochemicals and oil sand activities are also managed by this organisation.
Projects and Technology: This organisation is engaged in managing the projects undertaken by the company to ensure its timely completion and innovation for new technologies. It provides technical assistance to other organisations as well.
The Big Oil Reality Check report finds that the climate pledges and plans of 8 international oil and gas companies fail to align with international agreements to phase out fossil fuels and to limit global temperature rise to 1.5ºC.
Publication May 2021
More Related Content
Similar to RDS annual shareholder meeting 2019- Chad Holliday, Ben van Beurden
1.As a socially responsible Shell shareholder, it would be in .docxpaynetawnya
1.
As a socially responsible Shell shareholder, it would be in my best interest, and in the interest of the Earth, to ensure their mission is enacted in a sustainable manner. The Triple-Bottom-Line approach to Corporate Social Responsibility teaches that we must keep three elements in mind: profit, people, and planet. I love the triple-bottom-line philosophy because it covers a good deal of surface area with respect to: preserving the planet, satisfying the needs of people, and ensuring profitability. All three elements must be kept in a relatively balanced weight, otherwise its usefulness is nominal in nature only, and not in essence. John Elkington coined the phrase in 1994, and “A key challenge with the triple bottom line, according to Elkington, is the difficulty of measuring the social and environmental bottom lines, which necessitates the three separate accounts being evaluated on their own merits (Investopedia). The main problem with keeping a corporation’s culture fixated on profit, people, and planet equally is that it’s not as easily quantifiable to pin down social effects and relative preservation practices. I believe it all ties together, because positive social and environmental policies, while admittedly not easily measured, come back and lead towards better profits down the line. Integrating these key issues into corporate governance will ensure less accidents happen which can damage a company’s brand.
In their own words, Shell’s sustainability approach is thus, “We are committed to protect the environment, respect our neighbors, cause no harm to people, and help the world move towards a lower-carbon future” (Shell.com). As a socially responsible shareholder, I would ask for complete revenue transparency, and urge them to seek out new innovations and R&D in renewable energy sources to maintain a long-term competitive edge in the fuel industry.
Oil companies may indeed stay afloat and even reap a bounty over the short-term in profit margins, while ignoring the social and environmental effects they have sown. The thing that corporate executives need to understand, which some seem to, and some seem to not, is that sooner or later their reputation will plummet, or worse. Worst case scenario would be as in the case of the BP Deepwater Horizon oil spill in the Gulf of Mexico. Investments need to be made in preventative measures to ensure that never happens again.
I understand things from the view of the big oil guys. They want a steady flow of profit, and they rightly justify what they do because the world’s population is indeed expanding, and many in developing countries require the infrastructure and power to operate in the modern age. They argue that we must balance our moral obligations of providing energy access to all, and in combating climate change. I say that an energy company such as Shell needs to be held to an even higher standard than other companies, due to their niche in the fossil fuel in ...
Canadian Oil Sands: The lesser of several evilsWayne Dunn
The overall industry social license for the Canadian Oil Sands sector is under attack internationally and domestically. This piece explores that challenge and the role that government action and inaction has played in it.
To keep updated on postings and events go to www.csrtraininginstitute.com and sign up for the newsletter. If interested the CSR Knowledge Centre http://bit.ly/CSRknowledge contains a series of short, pragmatic articles on CSR Strategy, Management and related areas.
Constructive Effective Buisness Mesages.docx
Constructive Effective Business Messages
VIC LUNA
Com/295
April 17, 2017
University of Phoenix
Running head: CONSTRUCTIVE EFFECTIVE BUISNESS MESSAGES
1
CONSTRUCTIVE EFFECTIVE BUISNESS MESSAGES
2
Constructive effective Business Messages
There are lots of ideas in today’s marketing regarding products, and services in a global environment. All oil and gas organizations need infrastructure and maintained with in their prospective companies. We will address services with in the Oil, and gas industry identifying the rise of the product as well as the fall of the product. Also, being covered will be the audiences that will be attracted to the services since different generations play a key role in the Oil, and gas industry. We will also be identifying channels of communication in trying to gain attract from the customer. It is predicted that oil will be back on the rise and money to made, now is the time to invest.
The company will put together a new construction & maintenance plan to carry out for the customer to properly schedule drilling rigs set for the physical year’s budgets. We will also provide budgetary numbers for all materials needed to complete the drilling program within the guidelines of the scope of work provided. Our company will also provide a maintenance plan for the up keep of existing oil, and steam producing wells. Steam injecting oil from the ground will be an enhancer for you company since this is a fast and reliable source to producing oil. Steam is injected into the breaking up heavy crude oil making the well easy to pump out oil. Our company will be able to produce a vast amount of steam injector header in a short period of time therefore being able to produce double the amount of current production. This company has the financial capital to endure all up-front cost of any project provided. Anything additional cost that may accrue from faulty work or deviation from drawings without prior approval our company will bear the burden of all additional cost. The company is held to a standard amongst our shareholders as well as other big companies, so we know how important it is to perform at a maximized level to meet, and exceed expectations leaving no questions to be answered on the table at the end of the day. Scheduling will play a key factor for both sides since meeting deadlines will be critical. Daily, and weekly updates will be given to project management to show the flow of productivity as well as any obstacles that may lie ahead since this can cause delays in critical paths to completions with in the schedule. If our company comes across a challenge, it is in the best interest of both parties to be upfront and honest so there is no delays with meeting the deadlines that have been set forth on both sides. Dishonesty can damage a relationship between a business and customer with in a blink of an eye also causing exclusions from other potential bidding with in the .
Este artículo considera algunos de los desafíos que enfrentan los ingenieros y la industria de la tubería como lo experimentamos negocio y el cambio social, y esperamos que cambiar algunas de nuestras prácticas de ingeniería de la tubería.
Estos desafíos van desde el mantenimiento de nuestros estándares de seguridad a las tecnologías que fomentaban para permitir la reducción de costes. Sin embargo, como una industria fracasaremos todos nuestros desafíos técnicos si no mantenemos nuestra mejor personal, y administrar de manera efectiva.
Por lo tanto, este artículo considera algunos de los cambios necesarios en el pueblo y parte de gestión de nuestra industria, antes de desafiar las prácticas actuales de construcción de tuberías básicas.
Progressive companies around the world are developing products and services that will revolutionise industries and deliver transformative change for society and our planet. These solutions are driving new business growth while significantly reducing emissions towards a low-carbon, sustainable future for all.
Accelerating and scaling up implementation across sectors and borders, however, will require a higher level of collaboration than we have ever seen before, between business, government, and NGOs. The Business for the Environment (B4E) COP17 Dialogue aims to facilitate this, bringing stakeholders together to forge new partnerships and take real action on climate change. Leading the way and powering ahead for a clean industrial revolution.
A. About the company and the Sustainability Initiatives
Royal Dutch Shell PLC, which is more commonly known as Shell, founded in the year 1907, is a group of global energy and petrochemical companies employing more than 80,000 people in more than 70 countries. The organization was formed as a result of the merger of Royal Dutch Petroleum Company and Shell Transport and Trading Company Limited. The company is currently headquartered in The Hague, Netherlands, and Incorporated in England and Wales. Forbes Global 2000, in the year 2019, ranked Shell as the 9th largest company in the world, the largest company outside the PRC and the USA, as well as the largest energy company in the world. Shell also topped the ranking of Forbes Global 500 in the year 2013. Shell is a public limited company with its shares listed on Euronext Amsterdam, London Stock Exchange, New York Stock Exchange, and Philippine Stock Exchange. Its primary listing is on the London Stock Exchange and is a part of the FTSE 100 Index.
Shell has been engaged in vertical integration and is now present in every area of the O&G industry. Shell is actively engaged in the exploration, production, logistics, distribution, power generation, petrochemicals, and commerce. Shell has also ventured into renewable sources of energy such as hydrogen, wind, bio-fuel, and energy-kite.
Shell has divided its operations into different businesses:
Upstream: This organisation is engaged in the exploration and extraction of crude oil, natural gas, and natural gas liquids. Marketing and transporting of Oil and Gas are also done by this division.
Integrated Gas: This organisation is engaged in the management of LNG activities and the production of GTL fuels. It also includes the exploration for and the extraction of natural gas, and the operation and maintenance of the infrastructure that is necessary to make gas available in the market.
New Energies: This organisation is future-focused. It is engaged in the exploration of new opportunities and investment in commercially viable areas. Its main focus is on alternative sources of energy for transport such as hydrogen, bio-fuel, and electricity. Wind and solar energy are also areas of focus.
Downstream: This organisation is engaged in the creation of an integrated value chain that refines and trades crude oil and others into different products, which are then sold all around the globe. The products include petrol, diesel, aviation fuel, sulphur, heating oil, marine fuel, bio-fuel, lubricants, and bitumen. In addition to these, petrochemicals and oil sand activities are also managed by this organisation.
Projects and Technology: This organisation is engaged in managing the projects undertaken by the company to ensure its timely completion and innovation for new technologies. It provides technical assistance to other organisations as well.
Similar to RDS annual shareholder meeting 2019- Chad Holliday, Ben van Beurden (20)
The Big Oil Reality Check report finds that the climate pledges and plans of 8 international oil and gas companies fail to align with international agreements to phase out fossil fuels and to limit global temperature rise to 1.5ºC.
Publication May 2021
IEA publication, May 2024
Critical minerals, which are essential for a range of clean energy technologies, have risen up the policy agenda in recent years due to increasing demand, volatile price movements, supply chain bottlenecks and geopolitical concerns. The dynamic nature of the market necessitates greater transparency and reliable information to facilitate informed decision-making, as underscored by the request from Group of Seven (G7) ministers for the IEA to produce medium- and long-term outlooks for critical minerals.
The Global Critical Minerals Outlook 2024 follows the IEA’s inaugural review of the market last year. It provides a snapshot of industry developments in 2023 and early 2024 and offers medium- and long-term outlooks for the demand and supply of key energy transition minerals based on the latest technology and policy trends.
The report also assesses key risks to the reliability, sustainability and diversity of critical mineral supply chains and analyses the consequences for policy and industry stakeholders. It will be accompanied by an updated version of the Critical Minerals Data Explorer, an interactive online tool that allows users to explore the latest IEA projections.
Science Publication
Global projections of macroeconomic climate-change damages typically consider
impacts from average annual and national temperatures over long time horizons1–6
.
Here we use recent empirical fndings from more than 1,600 regions worldwide over
the past 40 years to project sub-national damages from temperature and precipitation,
including daily variability and extremes7,8
. Using an empirical approach that provides
a robust lower bound on the persistence of impacts on economic growth, we fnd that
the world economy is committed to an income reduction of 19% within the next
26 years independent of future emission choices (relative to a baseline without
climate impacts, likely range of 11–29% accounting for physical climate and empirical
uncertainty). These damages already outweigh the mitigation costs required to limit
global warming to 2 °C by sixfold over this near-term time frame and thereafter diverge
strongly dependent on emission choices. Committed damages arise predominantly
through changes in average temperature, but accounting for further climatic
components raises estimates by approximately 50% and leads to stronger regional
heterogeneity. Committed losses are projected for all regions except those at very
high latitudes, at which reductions in temperature variability bring benefts. The
largest losses are committed at lower latitudes in regions with lower cumulative
historical emissions and lower present-day income.
Science Publication: The atlas of unburnable oil for supply-side climate poli...Energy for One World
Nature Communication, Publication 2024
To limit the increase in global mean temperature to 1.5 °C, CO2 emissions must
be drastically reduced. Accordingly, approximately 97%, 81%, and 71% of
existing coal and conventional gas and oil resources, respectively, need to
remain unburned. This article develops an integrated spatial assessment
model based on estimates and locations of conventional oil resources and
socio-environmental criteria to construct a global atlas of unburnable oil. The
results show that biodiversity hotspots, richness centres of endemic species,
natural protected areas, urban areas, and the territories of Indigenous Peoples
in voluntary isolation coincide with 609 gigabarrels (Gbbl) of conventional oil
resources. Since 1524 Gbbl of conventional oil resources are required to be left
untapped in order to keep global warming under 1.5 °C, all of the above-
mentioned socio-environmentally sensitive areas can be kept entirely off-
limits to oil extraction. The model provides spatial guidelines to select
unburnable fossil fuels resources while enhancing collateral socio-
environmental benefits.
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
What is the point of small housing associations.pptxPaul Smith
Given the small scale of housing associations and their relative high cost per home what is the point of them and how do we justify their continued existance
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
RDS annual shareholder meeting 2019- Chad Holliday, Ben van Beurden
1. 2019 Royal Dutch Shell plc
Annual General Meeting
The Hague, The Netherlands
Charles O. Holliday
Chair, Royal Dutch Shell plc
May 21, 2019
Ben van Beurden
Chief Executive Officer, Royal Dutch Shell plc
May 21, 2019
2. Annual General Meeting Royal Dutch Shell plc: Speeches by Chair and CEO
2
Charles O. Holliday, born March 9, 1948. A US national,
appointed Chair of the Company with effect from May 2015,
having previously served as a Non-executive Director since
September 2010.
He was Chief Executive Officer of DuPont from 1998 to 2009,
and Chairman from 1999 to 2009. He joined DuPont in 1970
after receiving a B.S. in industrial engineering from the University
of Tennessee and held various manufacturing and business
assignments, including a six-year, Tokyobased posting as
President of DuPont Asia/Pacific. He has previously served as
Chairman of the Bank of America Corporation, The Business
Council, Catalyst, the National Academy of Engineering, the
Society of Chemical Industry – American Section, the World
Business Council for Sustainable Development and as a Director
of Deere & Company. He is a founding member of the
International Business Council. He is a Director of HCA Holdings,
Inc.
Ben van Beurden, born April 23, 1958. A Dutch national,
appointed Chief Executive Officer of the Company with effect
from January 2014.
He was Downstream Director from January to September 2013.
Before that, he was Executive Vice President Chemicals from
2006 to 2012. In this period, he also served on the boards of a
number of leading industry associations, including the International
Council of Chemicals Associations and the European Chemical
Industry Council. Prior to this, he held a number of operational
and commercial roles in both Upstream and Downstream,
including Vice President Manufacturing Excellence. He joined
Shell in 1983, after graduating with a Master’s Degree in
Chemical Engineering from Delft University of Technology, the
Netherlands.
3. Annual General Meeting Royal Dutch Shell plc: Speeches by Chair and CEO
3
The following text is based on speeches
delivered by Charles O. Holliday and Ben
van Beurden at the Annual General Meeting
of Royal Dutch Shell plc, in The Hague on
May 21, 2019.
Royal Dutch Shell plc
Charles O. Holliday
Welcome. Your company does not have the luxury of
supplying the energy needs of the growing population
or reducing our environmental impact. We must do
both. In the next few minutes, I will describe to you
how your company will make the future by
accomplishing growth and addressing environmental
impact. Thank you for your interest in Shell and for
being here today.
I refer you to the two reports on the screen. You can
find them on our website, shell.com – under the
Investors section. Decked out in our traditional red and
yellow Shell colors. They are valuable resources
produced for you.
They describe the strategy, operations and approach to
sustainability of your company. This is the 22nd
edition
of the Sustainability Report and it details many
examples. I think you will find it very interesting.
Just one example is India. We have been there 25
years, since reentry. And our links go back almost 100
years. The report includes a full summary of what we
are doing there – including in our major technology
center in Bangalore.
My subject for this morning is “Make the Future”. “Let’s
Make the Future” is a Shell campaign. It seeks to
capture the spirit we all need right now. The spirit
needed to meet the huge challenges the world faces.
At Shell, we must turn those challenges into
opportunities. And we must do it the right way. We
seek answers from people of all ages, nationalities and
backgrounds.
So, how do we make the future? We can take
inspiration from the young teams you just saw on our
video, before the meeting. Those team are stepping up
and playing their part in shaping the transport system of
tomorrow. I have had the opportunity to attend three
Shell Eco-marathons. The students are there to win –
and to learn about teamwork. At the same time, they
will lend tools or parts to their competitors. They are
there to learn to trust in their own abilities. To trust in
their team. And to trust in others too. These students see
the ultimate goal – a better world. Is this future
possible? If you have doubts, just attend one of these
Shell Eco-marathons. Out there on the racetrack, the
future is very bright indeed.
What does it take to ensure a sustainable future for the
planet? For Shell, it means providing energy for a
growing population with rising living standards. It
means keeping in step with society as it tackles climate
change and air pollution. And Ben will talk more about
how Shell is doing this. It means building trust.
Today, there are 7.6 billion people on the earth. This
figure is expected to rise to 9.8 billion by the middle of
the century. To give you a sense of the world’s
progress, from 1990 to 2010, 1.8 billion people
gained access to electricity. But during this same
period, the world population grew by 1.6 billion. The
world is making progress, but it is not enough. For
instance, in 2010, 41% of the world still cooked using
solid fuels that pose a serious health risk.
Our customers and other stakeholders expect Shell to
meet the world’s growing energy needs in a
sustainable way. As a Board, we are proud of how
Ben and his team are doing this. We are proud of the
leadership and progress they show. I will say it again.
Shell must continue to meet growing demand, and do
this in a sustainable way.
I had the honor to serve the UN during the appointment
of the former Secretary-General, Ban Ki-moon. In
2012, he launched the Sustainable Energy for All
initiative. And this is what he said: “Energy is the
golden thread that connects economic growth, social
equity and environmental sustainability.” As a boy
growing up in Korea, the Secretary-General studied at
night by a dim oil lamp. He did not have electrical
power in his home. The golden thread is a great way
to think about energy. We must meet the world’s
energy needs in a sustainable way. And we must be
trusted to do this.
So how do we do this in practice? Your company has
three strategic ambitions that guide us in making the
future. First, we want to be a world-class investment for
you, the shareholders. As our shareholders, you
deserve the returns to fund a retirement, educate your
children or do whatever you want to do in life. Ben will
say more about this strategic ambition shortly.
4. Annual General Meeting Royal Dutch Shell plc: Speeches by Chair and CEO
4
Second, we want to thrive through this period of huge
change in the energy system. This period we call “the
energy transition”. And finally, we want to keep our
strong licence to operate. Our strong, societal licence.
Trust is vital to all three ambitions, especially our
licence to operate. Because we cannot know what the
future holds. But we know that whatever it holds, we
will need the trust of you, our shareholders, of our
partners, whether in business or government, and, of
course, of our customers.
We cannot know what the future holds – and
technology is a very good example of this. Let’s look
back at previous energy transitions. In the early 1800s,
most of the world’s energy came from burning wood
and other biomass. But in the springs of Pennsylvania,
USA, oil was bubbling to the surface. The local
residents decided to bottle it and sell it as medicine.
The people of the day could not see the potential of
crude oil. And I am sure it is the same today. There are
energy sources in the world that have yet to reveal their
potential.
When Henry Ford was developing his first engine, he
designed it to run on gasoline or ethanol. That was in
1908. In fact, in 1925, Ford declared that ethanol
was the fuel of the future. Perhaps he was right. Just a
century too early. My point is energy transitions take
time. They are uncertain. They require trial and error.
Any company navigating one, as we are today, needs
trust. You have just seen a fine example of truck from
the past – the Ford Model T. Now let me show you
what tomorrow’s trucks might look like.
This is a picture of a prototype truck called Starship that
Shell Lubricants developed with the AirFlow Truck
Company. On a run from the east coast to the west
coast of the USA, its freight tonne efficiency was 248%
better than the average truck on the US roads.
Don’t worry, we are not getting into the truck business.
But I wanted to show it to you, because just like the
students on the racetrack, Starship was about working
with others, in trust, to see what is possible. Turning the
challenge of increasing energy demand, into the
opportunity of innovation. Finding ways to be more
efficient, to contribute towards a more sustainable
future.
This is one way Shell intends to thrive through the
energy transition. But it is not just about working with
others to push boundaries. If we are to rise to the
urgent challenge before us, we must innovate faster.
And we must commercialize technology faster. We
must, literally, make the future.
Let me share a few ways Shell is doing this: A catalyst
is a material that increases the rate of a chemical
reaction. Shell develops and manufactures catalysts for
our own use and for sale to others. In fact, we are a
leader in this field, and have about 200 people
working to discover and develop catalysts. Historically,
it has taken on average 7 years to take a new catalyst
from discovery to commercialisation. Shell now does
this in 3 years.
Another example is our use of artificial intelligence. We
first used the so-called “deep learning algorithms” to
drill wells last summer, in the Permian Basin, USA. Our
goal was to improve our drilling effectiveness. By
November last year, we were actively using this
technology to a commercial standard. That is a step-
change in the speed of deployment.
My third example is unmanned ships. These are remote-
controlled or self-steering, between 1 to 24 meters in
length and we use them to survey the seabed or inspect
our assets. And, we can use multiple unmanned ships
at the same time to speed up our ability to develop
infrastructure. We first deployed them in Canada in
March last year – and see great potential for them. We
have used them multiple times, reducing the average
job from 120 days to 30 days at a lower cost and in
greater safety.
This fast commercialisation is another way that Shell
intends to thrive in the energy transition. Technology
will help us to meet our ambitions, but, as I have said,
we cannot do it with technology alone.
We cannot deliver world-class returns and we cannot
thrive in the energy transition without a strong licence to
operate. This is our third strategic ambition, and it is all
about trust. My Chair’s letter in the Annual Report
focused on this. Because trust is critical to what we do.
And we earn it, grow it and keep it in three ways. By
meeting growing energy demand. By reducing our
environmental impact and increasing our safety. And
by doing what we say we will and delivering on our
ambitions. Whether that is in our technology center in
India, on the roads of the USA, or right here, today
with you.
Your Board of Directors are keenly aware of the need
to build your trust. And we want you to trust us when
5. Annual General Meeting Royal Dutch Shell plc: Speeches by Chair and CEO
5
we say this. Shell is doing its part to make the future.
And will turn challenges into opportunities.
Let me now turn over to Ben. Thank you.
Ben van Beurden
Thank you Chad. I would like to offer all of you my
personal warm welcome to today’s AGM.
As you know, our strategic ambitions are to deliver a
world-class investment case, to thrive in the energy
transition, and to maintain a strong societal licence to
operate. Chad has just given you some insight into our
approach on maintaining your company’s strong
societal licence to operate so I will concentrate on the
other two strategic ambitions.
In 2018, we had good performance from all our
businesses and we continue to transform Shell into a
simpler company that can deliver higher returns. We
delivered almost $31 billion in organic free cash flow
we paid an all-cash dividend. We covered interest
expense we reduced gearing we bought back shares
and we completed our $30 billion divestment
programme even as we maintained our capital
discipline. We made commitments to you, our
shareholders, and we have shown that we are a
company that delivers on our commitments. And our
progress towards a world-class investment case is
running alongside progress towards thriving in the
energy transition and maintaining a strong societal
licence to operate.
Many of you are already aware of our recent
commitment to set short-term targets to reduce the Net
Carbon Footprint of the energy products we sell. Many
of you know about the intensity targets we now have
for methane emissions to maintain methane emissions
intensity below 0.2% by 2025. These are examples of
your company showing leadership behaving as a
responsible company and acting to adapt to changing
customer needs as the global energy transition unfolds
towards a lower-carbon future. I will give you more
detail in the next few minutes. But let me start with a
summary of our 2018 financial highlights.
It will not have escaped your attention, of course, that
2018 was a year of oil price volatility. In spite of this
we saw all of our businesses deliver. That delivery
translated to current cost of supply earnings, excluding
identified items, of over $21 billion. We delivered free
cash flow of more than $39 billion and ROACE as per
our revised definition for the full year was 8.7%. We
also continued to move gearing down. We declared
dividends of almost $16 billion in 2018 and, as you
are aware, we paid them fully in cash.
And we bought back some $4.5 billion worth of
shares as part of our $25 billion buyback programme.
This is delivery.
I would like to reassure you at this point that our cash
priorities have not changed. We remain disciplined
with our cash allocation. Reducing our net debt remains
our first priority and ongoing divestment proceeds will
continue to help achieve this. We want to continue to
strengthen our balance sheet with AA-equivalent credit
metrics. Then, with our cash flow from our operations
we will fund our capital programme, our dividend
payments and interest expense. Surplus cash will be
used to fund our buyback programme and reduce debt
further. This is what we have been doing and what we
will continue to do.
The success of our approach can be seen in the
material improvement in your company’s cashflow
generation. For 2018, we were able to deliver free
cash flow of around $39 billion. Of this, $31 billion
was organic free cash flow, which excludes the effects
of divestments and acquisitions. And, based on our
outlook, we believe we have the free cash flow to
continue this track record of delivery. But before I go
further I must emphasise, as I always do, that this
delivery is built upon something that is fundamental to
the success of your company the foundations of any
success. And that is our performance on health, safety,
security and the environment.
Safety is critical in order for us to achieve our strategic
ambitions. We must all be safe if Shell is to be a world-
class investment case. We must all be safe if Shell is to
thrive in the energy transition. And we must all be safe,
if Shell is to maintain its societal licence to operate. I
regret to report that our HSSE performance was mixed
in 2018. There is more work to be done. Sadly, two of
our contractor colleagues died during 2018. No loss
of life is ever acceptable and we must ensure that such
deaths do not happen in the future. The long-term trend
still shows improvement. But slipping backwards in
2018 just emphasises how hard-won these
improvements have been.
In other areas, our HSSE performance was more
encouraging. For example, process safety was an area
of improvement. I am glad to report that we achieved
our best year ever. While we strive to prevent
incidents, when they do occur we must learn from
them. For certain incidents this involves deep causal
6. Annual General Meeting Royal Dutch Shell plc: Speeches by Chair and CEO
6
and reflective learning events across the organisations,
including at the Executive Committee. Our collective
learning effort through 2018 identified the need to
improve in a number of areas.
So we are significantly sharpening our Learning from
Incidents process. We are introducing new
approaches to HSSE risk assessment. We are re-
assessing the exception process in our Health, Safety,
Security, Environment and Social Performance, or
HSSE&SP Control Framework. And we will refresh how
we handle the moding of contracts. This governs which
HSSE management system a contractor operates under.
Last but not least, we are expecting each and every
one of our staff to recommit to goal zero. To 'be goal
zero' each and every day.
Now, before I move into further details about our HSSE
performance in our businesses, I would like to pause a
few moments to talk about last year’s AGM.
Representatives from the Global Union IndustriALL
attended Shell’s AGM in 2018, followed by letters
with allegations, sometimes related to our HSSE
performance and standards, pertaining to Tunisia,
Brazil, Uganda, Trinidad & Tobago and Nigeria. Shell
has done very thorough investigations regarding those
allegations with teams from different departments, and
found all these allegations to be unsubstantiated. We
have responded to IndustriALL with verydetailed
information, and in a timely manner with country-
specific outcomes of our investigations. Shell is
committed to improve on service contractor
management, building on the good progress made
over the last few years and will continue to engage
with unions on a local level.
Continuing on the topic of HSSE performance I know
you will want an update on NAM, the 50:50 joint
venture with Exxon Mobil here in the Netherlands.
NAM is an independent venture, Shell fully understands
that the earthquake situation deeply concerns local
communities in Groningen. In 2018, NAM, its
shareholders and the government reached an important
agreement. The government together with NAM are
working diligently to translate their agreement into law
although we are not waiting for that process before we
put the agreement into action. The Dutch Government
has assumed full legal responsibility over production
instruction, safety and seismicity. The Groningen
partners will continue to share the costs associated with
the earthquakes. And Shell Nederland expects that
NAM can pay for any earthquake related costs under
all scenarios.
Before we move on, I would like acknowledge that the
legal case relating to OPL245 in Nigeria is still
ongoing. As this is a live case, we will not be able to
take any questions on this today. However, I would like
to reiterate that, based on the information available to
us, including the Milan public prosecutor’s file, we do
not believe there is a basis to convict Shell or any of
our four former employees in relation to OPL 245 and
we will vigorously defend our case. We are also
aware that an investigation by the Dutch Public
Prosecutor, is ongoing. As appropriate, we will
provide updates as this matter progresses.
I would like to move on now to give you more insight
into how your company is seeking to make progress on
our second strategic ambition: thriving in the energy
transition to a lower-carbon future. Shell fully supports
the Paris Agreement and your company’s Net Carbon
Footprint ambition is fully consistent with the Paris
Agreement. We aim to reduce the Net Carbon
Footprint of the energy products we sell by around half
by 2050 and by around 20% by 2035 as an interim
ambition. We will do this in line with society because
both energy demand and energy supply must evolve
together. No business can survive unless it sells things
that people need and buy. It is about being a world-
class investment also far into the future.
And I would like to give you an example of one of the
business opportunities we are investing in as Shell
begins its transformation. This example is also an
opportunity that will help your company make progress
towards its Net Carbon Footprint ambition and being a
world-class investment case at the same time.
I want to set out some detail for you on our moves into
the power sector. We intend to be involved at almost
every stage of the sector, from generating electricity, to
buying and selling it, and supplying it to customers.
We see the power industry changing – with more
volatility, intermittent supply and demand. And we see
that playing to our strengths. We see a significant
opportunity to use the power of our brand and our
global customer base to supply not only electricity, but
also adjacent services such as car charging, home-
based battery storage and smart energy usage
optimisation. Having a large customer base alongside
clean power generation assets gives Shell the
opportunity to trade, integrate and optimise.
We can benefit from our world-class experience and
infrastructure in energy trading. We are already one of
the top three power wholesalers in the USA. This
strategy means we will need to make investments in
7. Annual General Meeting Royal Dutch Shell plc: Speeches by Chair and CEO
7
storage and different kinds of low-carbon power
generation, like wind, solar and gas. It does not mean,
however, that we plan to own all the plants that
generate the power we sell. Instead, we will
complement our supply by buying power from third-
party suppliers to remain flexible.
In relation to Shell’s Net Carbon Footprint ambiton, I
would also like to highlight an initiative that your
company has only recently announced. An initiative to
turn to nature, through what are sometimes called
nature-based solutions or NBS. On 8 April, Shell
announced a programme to invest at least $300
million in natural ecosystems. In the Netherlands and
later this year also in the UK Shell is offering motorists
carbon-neutral driving with Shell fuels. By offering
carbon offsets, we are giving customers the opportunity
to support the protection and restoration of forests and
wetlands that absorb carbon.
A paper produced by a number of expert bodies –
including the Nature Conservancy and Wetlands
International – estimated that protecting and creating
forests, grasslands and wetlands could reduce CO2 in
the atmosphere by more than 11 billion tonnes a year
by 2030. This is only an estimate, but it is equivalent to
the combined emissions of the USA and the European
Union. Some say we should simply replace all road
transport with battery-powered vehicles. But according
to the International Energy Agency, in the time the
number of electric cars are expected to grow from 3 to
280 million, the number of petrol cars could grow from
1 to 1.7 billion. Yes, a switch to battery-electric cars is
happening and it is essential. But traditionally fuelled
cars will be around for decades to come and this
initiative to work with nature can help address that
reality.
Finally, we are aware of the debate that has ensued in
the Netherlands following our announcement.
But we are confident that our approach offers an
immediately available option for customers to take a
step towards Paris right now.
Moves like these are why we were able to announce
the first of our short-term targets on our Net Carbon
Footprint. These targets are now linked to executive
remuneration. We developed them through extensive
collaboration with institutional investors working on
behalf of Climate Action 100+.
But Shell also wants to contribute to society and help
contribute to solve some of the world’s biggest
challenges. Challenges like those set out in the United
Nations Sustainable Development Goals. As we are an
energy supplier and energy improves people’s lives
stepping up in providing people access to energy is
simply the right thing to do.
Shell has an ambition: by 2030 we want to provide a
reliable electricity supply to 100 million people in the
developing world who do not have it today. If we
succeed 100 million more people will then have power
to improve their lives and the lives of those around
them.
So that is how Shell is making progress towards each
of its strategic ambitions. Chad has spoken to you
about trust, which lies at the heart of our societal
licence to operate. I have spoken about our financial
delivery our business delivery our financial discipline
and cash priorities and our dedication to strong HSSE
performance. All of this adds up to real progress
toward being a world-class investment case.
And I have spoken about our approach to thriving in
the energy transition by taking the opportunities to be
found within that transition and changing the mix of
what your company sells to move in step with
customers as our customers and global society makes
progress towards the goal of the Paris Agreement.
It is by following our strategy; by achieving our three
strategic ambitions that Shell your company can be a
world-class investment case not just today but long into
the future. Thank you.
8. Annual General Meeting Royal Dutch Shell plc: Speeches by Chair and CEO
8
NOT FOR RELEASE, PRESENTATION, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISIDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
This presentation contains data and analysis from Shell’s new Sky scenario. Unlike Shell’s previously published Mountains and Oceans exploratory scenarios, the Sky scenario is based on the
assumption that society reaches the Paris Agreement’s goal of holding the rise in global average temperatures this century to well below two degrees Celsius (2°C) above pre-industrial levels.
Unlike Shell’s Mountains and Oceans scenarios which unfolded in an open-ended way based upon plausible assumptions and quantifications, the Sky Scenario was specifically designed to
reach the Paris Agreement’s goal in a technically possible manner. These scenarios are a part of an ongoing process used in Shell for over 40 years to challenge executives’ perspectives on
the future business environment. They are designed to stretch management to consider even events that may only be remotely possible. Scenarios, therefore, are not intended to be predictions
of likely future events or outcomes and investors should not rely on them when making an investment decision with regard to Royal Dutch Shell plc securities.
Additionally, it is important to note that Shell’s existing portfolio has been decades in development. While we believe our portfolio is resilient under a wide range of outlooks, including the
IEA’s 450 scenario (World Energy Outlook 2016), it includes assets across a spectrum of energy intensities including some with above-average intensity. While we seek to enhance our
operations’ average energy intensity through both the development of new projects and divestments, we have no immediate plans to move to a net-zero emissions portfolio over our investment
horizon of 10-20 years. Although we have no immediate plans to move to a net-zero emissions portfolio, in November of 2017, we announced our ambition to reduce our net carbon
footprint in accordance with society’s implementation of the Paris Agreement’s goal of holding global average temperature to well below 2°C above pre-industrial levels. Accordingly,
assuming society aligns itself with the Paris Agreement’s goals, we aim to reduce our Net Carbon Footprint, which includes not only our direct and indirect carbon emissions, associated with
producing the energy products which we sell, but also our customers’ emissions from their use of the energy products that we sell, by around 20% in 2035 and by around 50% in 2050.
Gearing is defined as net debt as a percentage of total capital. With effect from 2018, the net debt calculation includes the fair value of derivative financial instruments used to hedge foreign
exchange and interest rate risks relating to debt, and associated collateral balances. Free Cash Flow is defined as the sum of “Cash flow from operating activities” and “Cash flow from
investing activities”. Cash flow from operating activities excluding working capital movements is defined as “Cash flow from operating activities” less the sum of the following items in the
Consolidated Statement of Cash Flows: (i) (increase)/decrease in inventories, (ii) (increase)/decrease in current receivables, and (iii) increase/(decrease) in current payables. Organic free
cash flow is defined as free cash flow excluding inorganic capital investment (acquisitions) and divestment proceeds. ROACE (Return on Average Capital Employed) is defined as the sum of
current cost of supplies (CCS) earnings attributable to shareholders excluding identified items for the current and previous three quarters, as a percentage of the average capital employed for
the same period. Capital employed consists of total equity, current debt and non-current debt. Capital investment comprises capital expenditure, exploration expense excluding well write-offs,
new investments in joint ventures and associates, new finance leases and investments in Integrated Gas, Upstream and Downstream equity securities, all of which on an accruals basis.
Divestments comprises proceeds from sale of property, plant and equipment and businesses, joint ventures and associates, and other Integrated Gas, Upstream and Downstream investments,
reported in “Cash flow from investing activities (CFFI)”, adjusted onto an accruals basis and for any share consideration received or contingent consideration recognised upon divestment, as
well as proceeds from the sale of interests in entities while retaining control (for example, proceeds from sale of interest in Shell Midstream Partners, L.P.). Divestment cash proceeds in 2016-
2018 were equal to $26.7 billion (in Cash flow from investing activities) and $2.1 billion (“Change in non-controlling interest” in Cash flow from financing activities, primarily related to Shell
Midstream Partners, L.P.). Additionally certain contingent payments associated with these divestments are expected to be received in the future. This presentation contains the following forward-
looking Non-GAAP measures: Organic Free Cash Flow, Free Cash Flow and Capital Investment. We are unable to provide a reconciliation of the above forward-looking Non-GAAP
measures to the most comparable GAAP financial measures because certain information needed to reconcile the above Non-GAAP measure to the most comparable GAAP financial measure
is dependent on future events some which are outside the control of the company, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures
with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of
future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Royal Dutch
Shell plc’s financial statements. As the projects are expected to be multi-decade producing the per barrel projection will not be reflected either in earnings or cash flow in the next five years.
Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves. Resources: Our use of the term “resources” in this presentation includes quantities of oil
and gas not yet classified as SEC proved oil and gas reserves. Resources are consistent with the Society of Petroleum Engineers (SPE) 2P + 2C definitions. The forward-looking break-even
price (BEP) presented is calculated based on all forward-looking costs associated from Final Investment Decision (FID). Accordingly, this typically excludes exploration and appraisal costs,
lease bonuses, exploration seismic and exploration team overhead costs. The forward-looking BEP is calculated based on our estimate of resources volumes that are currently classified as 2p
and 2c under the Society of Petroleum Engineers’ Resource Classification System. The financial measures provided by strategic themes represent a notional allocation of ROACE, capital
employed, capital investment, free cash flow, organic free cash flow and underlying operating expenses of Shell’s strategic themes. Shell’s segment reporting under IFRS 8 remains Integrated
Gas, Upstream, Downstream and Corporate. All outlook on financial metrics and/or alternative performance measures excludes the effect of IFRS 16 implementation.
Also, in this presentation we may refer to “Shell’s Net Carbon Footprint”, which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in
supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions but, to support society
in achieving the Paris Agreement goals, we aim to help and influence such suppliers and consumers to likewise lower their emissions. The use of the terminology “Shell’s Net Carbon Footprint”
is for convenience only and not intended to suggest these emissions are those of Shell or its subsidiaries.
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this presentation “Shell”, “Shell group” and “Royal Dutch Shell” are
sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Royal
Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities.
‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this presentation refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and
unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities over which Shell has significant
influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by
Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
This presentation contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations
and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements
of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential
exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking
statements are identified by their use of terms and phrases such as “aim”, “ambition’, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, ‘‘objectives’’,
‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future
operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, including (without
limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f)
loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and
successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and
regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the
risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared
costs; and (m) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements
contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-
looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell’s Form 20-F for the year ended December 31, 2018 (available at
www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this presentation and should be considered by the reader.
Each forward-looking statement speaks only as of the date of this presentation, May 21, 2019. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly
update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or
inferred from the forward-looking statements contained in this presentation. We may have used certain terms, such as resources, in this presentation that the United States Securities and
Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575,
available on the SEC website www.sec.gov.