Investing.com – Royal Dutch Shell (NYSE:) ADRs traded 4.3% lower in Thursday’s premarket after the oil and gas major reported third-quarter sales and profit that fell short of expectations.

Additionally, it set ambitious targets to lower its carbon footprint even if more was feasible. It raised the possibility that higher expenditures could be made on greener technologies.

The company’s third-quarter profit more than quadrupled to $4.13 billion on revenue of $60.04 billion. Active investor Third Point (NYSE:) is demanding that the company divide its legacy and renewables businesses. The company is currently in the midst of this. First, the company was adamant about this idea.

Due to Hurricane Ida’s damage, Shell suffered a loss of approximately $400 million in adjusted earnings. This was after Shell had reported a loss of earnings in early August due to Hurricane Ida, which shut down its operations in the Gulf of Mexico for at least two weeks in August.

Shell has set a goal to reduce its total direct emissions by half in 2030, relative to 2016 levels. This is a bolder approach than the previous ones. The new goal covers Scope 1 and Scope 2 emissions, which are directly under Shell’s operational control.

Although it is ambitious, the plan still fails to account for Scope 3 emissions from Shell product users. It has committed to becoming a net zero emissions company by 2050.