Whatever your opinion of renewable energy is, it does not have the potential to replace oil for decades (plural) and as such is not a viable business strategy vis a vis oil production.
So from strictly an investment viewpoint, Shell's future business success can even approach its past or current business model.
Here are Shell's plans:
We are working to offer customers more, lower-carbon products, from renewable electricity to hydrogen. We aim to reduce the carbon intensity of the energy products we sell by 30% by 2035 and by 65% by 2050 compared with 2016, keeping in pace with society.
A big part of the transition includes an emphasis on natural gas rather than oil. And renewable energy (including hydrogen), carbon capture, natural sink (e.g. planting trees) and biofuels will lead the way.
None of those options will generate much, if any, revenue and profits from those ventures will be minimal or more likely, negative.
Layoffs and outsourcing jobs to low cost centers will be business as usual for RDS...