Shell Changes Stance on Carbon as Investors Push for Disclosures
- Oil major will now publish short-term emission-output targets
- Shareholders snubbed a different disclosure proposal in May
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Royal Dutch Shell Plc’s decision to give more details on its emission-reduction plans sheds light on private discussions between the oil major and its shareholders, which led to a change in stance following years of resistance.
The capitulation will see the Anglo-Dutch company set carbon-output targets annually for the following three or five years as it works to halve its “net carbon footprint” by 2050. The goals will be tied to executive pay.