It weakened its carbon reduction target for 2030, and cancelled an objective set for 2035.
CEO Wael Sawan told Reuters this was because the outlook for the global energy transition was still uncertain.
He further said trying to be "forensic" about Shell's emissions in 2035 was "perilous".
But the firm stuck to its plan to cut emissions to net zero by 2050.
The changes are a key part of Sawan's strategy revamp to boost returns.
He wants to focus on higher-margin projects, steady oil output and growth in the production of natural gas.
Rival BP made a similar move last year when it pulled back on oil production and emission reduction targets.
The companies have faced growing investor pressure to boost returns.
Shell said it will target a 15-20% reduction in net carbon intensity of its energy products by 2030 compared with 2016 intensity levels.
It had previously aimed for a 20% cut.
Shell said it believed gas and liquefied natural gas will play a critical role in the energy transition, and sees it replacing more polluting carbon in power plants.
Shell also maintained its target to halve emissions from its own operations by 2030.
