This is Shell’s first acquisition globally for its Nature-Based Solutions business, which invests in forests, grasslands, wetlands and other natural ecosystems around the world to reduce emissions and capture more CO2 while benefiting biodiversity and local communities. It will contribute to Shell’s ambition to be a net-zero emissions energy business by 2050 or sooner, in step with society. This ambition also involves working with customers to reduce or offset the emissions generated when they use Shell products, such as through the use of carbon credits. There is no single solution to tackling climate change and Shell supports nature-based carbon credits as one addition to robust decarbonisation throughout the global economy.


Select Carbon has developed and manages a portfolio of over 70 projects covering about 9 million hectares across different ecosystems and agricultural uses, including in Australia’s diverse rangelands. The carbon credits** generated through Select Carbon’s projects are offered for sale through the Australian Government’s Emissions Reduction Fund and other markets, creating an additional revenue stream for farmers and landowners.

“Select Carbon has a team of highly skilled professionals with strong technical expertise and an established national landowner network. Together with Shell’s global resources, this combination will accelerate the growth of carbon farming in Australia,” said Shell Australia chairman Tony Nunan. “The scale of Australia’s rangelands, ecological diversity and integrity of intact primary forests make this market a natural choice for Shell’s first acquisition globally for our Nature-Based Solutions business and to further scale Shell’s investment in this area here in Australia.”

“Select Carbon believes joining Shell will more thoroughly capture new opportunities in land management and carbon sequestration. Combined, we have the experience and resources for large-scale nature-based solutions that bring economic and community benefits to regional Australia. It is a great opportunity to work alongside land managers to achieve multiple outcomes, including resilient regional businesses and landscape health,” said Dean Revell, CEO of Select Carbon. “Our collective immediate actions, and those over the next few decades, will be critical to ensure liveable, productive and sustainable environments for generations to come.”

Australia continues to be a priority market for Shell’s investment in new energies. The market offers a compelling combination of strong growth in renewables, adjacency of gas as a complementary energy source, and customer demand for low-carbon energy solutions.

This acquisition complements Shell’s existing efforts in reducing the carbon intensity of our natural gas operations and investments in renewable and lower-carbon sources of energy in Australia. These include: the acquisition of Australian commercial and industrial energy retailer, ERM Power; the acquisition of sonnen, a German company with operations in Adelaide that provides battery storage systems and solar panels for homes in Germany, Italy, USA and Australia; investing a 49% stake in Australian solar developer, ESCO Pacific; and building Shell’s first industrial-scale solar power farm in central Queensland.

The transaction is expected to be completed before the end of the year and is subject to Australian regulatory approval.

Enquiries:

Shell Australia Media: +61 417 007 344

Notes to editors:

  • *Carbon farming, a commonly used term in Australia, uses agricultural and land management practices that capture carbon in vegetation and soils or reduce greenhouse gas emissions. By using the correct land management practices, farms can transition from being net carbon emitters to carbon sinks.
  • **Each Australian Carbon Credit Unit generated through Select Carbon’s projects represents the avoidance or removal of 1 tonne of carbon dioxide and is eligible to participate in the Australian Federal Government’s Emissions Reduction Fund.
  • Natural ecosystems play a critical role in capturing and storing carbon. Efforts to protect or redevelop natural ecosystems will make a vital contribution to limiting global warming. These projects can also lead to the marketing, trading and sale of carbon credits.
  • Nature-Based Solutions are projects that protect, transform or restore natural ecosystems, such as forests, grasslands and wetlands.
  • Shell has a range of existing projects in Nature-Based Solutions around the world, including offering low-carbon biofuels and carbon neutral driving options in the United Kingdom and the Netherlands. In Australia, Shell has one existing regeneration project of endangered native forest in the Brigalow ecological community in Queensland.
  • Select Carbon was founded in 2010 and employs 24 staff, who will all be retained under the deal. The company has offices in Perth, Albury (NSW) and Brisbane. Select Carbon’s leadership team will report to Flora Ji, Shell’s General Manager, Nature Based Solutions, Asia-Pacific.
  • Select Carbon’s portfolio includes 14 Human Induced Regeneration (HIR) and 4 Avoided Deforestation (AD) projects in New South Wales; 4 HIR projects in Queensland; 38 HIR projects in West Australia; and 12 near-term pipeline projects.
  • In Australia, Shell employs around 2,000 people directly and indirectly supports thousands of jobs in regional Australia. Shell has been a significant investor in Australia for more than 118 years.
  • Financial details of the transaction have not been disclosed.

Royal Dutch Shell plc

Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects. For further information, visit www.shell.com.

Cautionary note

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this release “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 release 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 release 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 release, 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; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) 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 release 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, 2019 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this release, August 3, 2020. 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 release.

We may have used certain terms, such as resources, in this release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. 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.

Also, in this release 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.

It is important to note that as of 3 August 2020, Shell’s operating plans and budgets do not reflect Shell’s Net-Zero Emissions ambition. Shell’s aim is that, in the future, its operating plans and budgets will change to reflect this movement towards its new Net-Zero Emissions ambition. However, these plans and budgets need to be in step with the movement towards a Net Zero Emissions economy within society and among Shell’s customers.