Annual Report and Accounts 2021

Read the full, comprehensive operational and financial report for the year ended December 31, 2021.

Purpose:

The Annual Report provides a comprehensive account of Shell’s operational and financial activities for the year to December 31.

It outlines Shell’s business strategy, summarises its financial results, and explains how the component parts of Royal Dutch Shell plc and its subsidiaries operate.

It presents our consolidated financial statements, offers context on the global market conditions affecting us, and gives our assessment of the factors which could pose a significant risk to Shell and our shareholders.

It also outlines the social and environmental challenges we face, including our approach to tackling climate change, and provides detail on the steps we are taking to thrive in the transition to a low-carbon world.

It gives details of how our Chief Executive Officer and Chief Financial Officer are paid, and serves as Shell’s Annual Report and Accounts in accordance with UK law.

Key contents:

Strategy and Outlook; Risk factors; Market overview; Summary of Results; Integrated Gas; Upstream; Oil and gas information; Downstream; Liquidity and capital resources; Environment and society; Climate change and energy transition; Governance; Directors’ Remuneration Report; Financial Statements; Independent Auditors’ Reports.

Readership:

The report is intended to provide key information to investors and potential investors, as well as being of interest to anyone who wants to understand Shell’s activities.

Sustainability Report 2021

Read the public record of our progress in contributing to sustainable development, online.

Purpose:

The Sustainability Report details Shell’s social, safety and environmental performance for the year to December 31.

It outlines the key sustainability challenges Shell faces and the many ways the company is responding.

To help inform our decisions about the report’s content, we consider the views of various groups including non-governmental organisations, customers and investors, to understand concerns about Shell’s impact.

The report provides a detailed account of Shell’s performance, taking into account the concerns raised.

It also explains how Shell supports global efforts to tackle climate change, and the role we are playing in the energy transition to a lower carbon world.

It includes an introduction from Shell’s Chief Executive Officer and an evaluation of the report’s content by a review panel of independent experts.

The Sustainability Report is an online-only publication.

Key contents:

Contents vary from year to year, but can include: Business strategy; Human rights; Climate change and energy transition; Net Carbon Footprint; Managing greenhouse gas emissions; Lower-carbon energy; Tax and transparency; Social performance; Working with partners; Environmental data; Safety data; Social data.

Readership:

The report’s intended audiences are investors, non-governmental organisations, academics and anyone who would like to understand Shell’s social and environmental challenges and the steps we take to respond to them.

Energy Transition Progress Report 2021

Read about the progress Shell is making in its energy transition strategy.

Purpose:

The Shell Energy Transition Progress Report describes our progress as we transform into a net-zero emissions energy business.

It shows how we have performed against our climate targets in the short term, and how we are working to achieve our medium- and long-term targets.

It describes the ways we are helping to transform the energy system, by working with customers, sector by sector, to accelerate the transition to net-zero emissions.

It gives examples of how we are building new supply chains and working to change demand across sectors from road freight to aviation and heavy industry.

The report also describes our planned total expenditure and expected returns across our businesses.

It shows how we are significantly increasing our expenditure on low- and zero-carbon energy, helping both Shell and its customers to meet their climate targets.

It gives a summary of our climate-related policy engagement, our governance of climate-related matters and our position on climate litigation and activism.

Key contents:

Our performance against our climate targets; sectoral decarbonisation; our financial framework; climate policy engagement; climate governance; a just transition; climate standards and benchmarks; and climate litigation and activism.

Readership:

Anyone who is interested in how Shell is making progress in its energy transition strategy.

Tax Contribution Report 2020

Read detailed information on Shell’s taxes for 2020.

Purpose:

The Tax Contribution Report provides details of the corporate income tax we have paid in countries and locations in which we have a taxable presence, across all our businesses.

This voluntary disclosure represents an important move for Shell towards greater transparency around our approach to paying taxes.

We have focused on corporate income tax because this is what has attracted the most questions from investors, non-governmental organisations and wider society.

The Tax Contribution Report complements the information in Shell’s Payments to Governments Report, which details payments we make to governments in relation to our Upstream activities.

Shell is committed to compliance. We seek to comply with the applicable tax laws in all the countries and locations in which we have a taxable presence.

We aim to be transparent about our approach to tax, and open to a wider discussion with governments, businesses, investors and civil society.

Key contents:

Our approach to tax; country sections detailing: total revenue, profit before tax, tax paid, tax accrued, and Shell’s business activities.

Readership:

Anyone who wants to understand Shell’s approach to tax, the amount of tax we pay and where.

Other reports and topics

Payment to Governments report

The Payments to Governments Report is published annually and details payments relating to upstream activities in countries where Shell explores for or produces oil and gas.

Sustainability Performance Data (PDF Download, 385 kB)

Each year, we measure our ESG performance and report on the safety of our operations, our impact on the environment and our contribution to communities.

ESG Information hub

The ESG information hub brings together our key reports, policies and commitments, our sustainability data and performance, and mapping to reporting standards and frameworks.

Annual reports download centre and archive

Our annual publications are available online or as a PDF download.

Our work with Industry Associations

Find out more in our Industry Associations Climate Reviews.

UK Diversity Pay Gap Report

We are taking meaningful action and monitoring progress to address our pay gaps and build a more diverse and inclusive workplace at Shell in the UK. Read our 2021 diversity pay gap report.

Nigeria Briefing Notes 2021

The Nigeria Briefing Notes are a story of business performance but also a story of how a revolution in energy is driving new economic opportunities in Nigeria.

VPSHR Annual Report (PDF Download, 666 kB)

Read summary report of the voluntary principles on security and human rights.

Annual Report and Accounts 2021

Taking action today and building for tomorrow

Read the Chief Executive Officer’s review in our Annual Report and Accounts 2021
Ben van Beurden, CEO
Ben van Beurden, CEO

Chair's message: Succeeding with our customers

Read the Chair’s message in our Annual Report and Accounts 2021
Sir Andrew Mackenzie, Chair
Sir Andrew Mackenzie, Chair

Sustainability Report 2021

Aerial view of a busy road intersection in Shanghai, China, 2019. (photo)

Our approach to taxes

Shell seeks to comply with the applicable tax laws in all the countries and locations in which we have a taxable presence. We respect both the letter and the spirit of the tax law.

A growing population with rising living standards will need more energy. Shell provides energy for transport users. (Photo)

Our tax data

We disclose how much corporate income tax we pay in countries and locations where we have a taxable presence. This section provides a breakdown of our country-by-country reporting.