FT News Briefing Shell’s clean energy departures, Starbucks' bullish goals, US anti-money laundering overhaul
Dec 9, 2020
Starbucks remains optimistic about growth despite pandemic challenges, focusing on enhancing employee experiences. Meanwhile, major shifts are happening in the energy sector as high-level departures at Shell reveal internal strife over the green strategy. The U.S. is poised for a significant revamp of anti-money laundering laws, aiming to alleviate burdens on banks. In Japan, a substantial stimulus package is set to accelerate recovery from Covid-19, particularly supporting digital and green initiatives.
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Shell's Green Energy Debate
- Shell executives debate the company's green energy transition strategy.
- Some push for aggressive change, while others prefer a more cautious approach.
Shell Executive Exodus
- Several clean energy leaders, including those heading onshore and offshore wind, left Shell.
- Their departures are linked to frustrations over the company's pace of green transition.
Balancing Profit and Transition
- Shell's CEO expressed concern about prematurely retreating from the oil business.
- The company is balancing the lucrative nature of fossil fuels with the need to transition to green energy.