Oil and gas major Shell has announced plans for carbon emissions targets linked to remuneration.

Shell’s announcement was made at the start of the COP24 climate talks in Katowice, Poland. It reinforces plans outlined in 2017, when the business stated its ambition to cut the “net carbon footprint” of energy products it sells.

In a joint statement on Monday with a leadership group of institutional investors on behalf of Climate Action 100+, the Anglo-Dutch business said it aimed to cut its net carbon footprint by around 50 percent by 2050. As an “interim step,” the firm said it would aim to reduce its net carbon footprint by around 20 percent by 2035, according to CNBC.

It will also set specific net carbon footprint goals for short term periods of three or five years. Targets will be set every year.

The business added that it would, as part of a revised remuneration policy, “incorporate a link between energy transition and long-term remuneration.” This will be subject to a shareholder vote at its 2020 Annual General Meeting.

Climate Action 100+ is a five-year global initiative, led by investors, with over $32 trillion in assets under management.

Its goal is to engage “systemically important greenhouse gas emitters” and other businesses that have opportunities to “drive the clean energy transition and help achieve the goals of the Paris Agreement.”