Shell warns of ballooning carbon costs, climate risks to its oil, gas business

Shell faces spiraling carbon costs in the coming decade due to unaligned net-zero policies and evolving regulations, leading to “significant uncertainty”, it said March 9. In its 2022 annual report, the energy company also flagged the risks to its oil and gas business from climate change and the energy transition, admitting that they could have a “material adverse effects” on…