As concerns grow over the existential challenges posed by climate change, Shell must grapple with its own existential crisis: How should a company that generates most of its profits by serving the world’s enormous appetite for oil navigate a long-term future in which shifting political and economic tides threaten to make fossil fuels obsolete?

The CEO is only halfway to where he should be:

Shell CEO Ben van Beurden has a bird’s-eye view of the situation from his corner office at the company’s global headquarters in the Hague. “We have to figure out what are the right bets to take in a world that is completely changing because of society’s concerns around climate change,” he says.

Mr. van Bourden, try this: “a world that is completely changing because of the impact of climate change.” Then we’ll talk.

via Why Fossil Fuel Companies Are Reckoning With Climate Change | Time