A small anecdote illustrates how far this process has already gone: About ten years ago, we attended a conference in Düsseldorf that dealt with the question of investing in renewable energies. At the time, a leading manager of a major German energy supplier strongly advised not to invest into renewable energies. In his view, climate change was not man-made, but the result of increasing solar activity, as evidenced by the increase in sunspots.
Such a statement would be inconceivable today. Hardly anyone in the energy industry questions the fact that humankind is the main cause of climate change. This also affects the economy: Many corporations are onliged by law – or are voluntarily committing themselves – to reducing greenhouse gases and becoming climate-neutral over the next decades. In addition, the role of traditional energy companies is also changing. They need to transform their business and develop new business models to become sustainable.
At Shell, this transformation process is in full swing: The Group is investing billions in green technology and aims to become the world market leader in renewable energies. By supporting what is probably the company's biggest realignment, we have the opportunity to advance the transformation within the system and play an important role in shaping it. Incidentally, we are in good company here: Innovative greentech companies such as Sonnen, Ubitricity and Limejump have also decided to partner with Shell for scaling their groundbreaking concepts in line with the global energy transition.
Of course, we are also a little bit wistful as we leave our role as a start-up. But we are taking the disruptive energy that has always defined us into the next chapter. We are convinced that as part of Shell's New Energies division, we can change our energy system for the long term and we will do our best to achieve this.