Climate Changed
Shell Activist Investor Withdraws Climate Resolution for 2019
- Follow This says it will ‘give Shell time’ to make changes
- Resolution asked company to align itself with Paris accord
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An activist shareholder that filed resolutions for three years pressuring Royal Dutch Shell Plc to do more on climate change said it will withdraw the filing for 2019.
In backing down, investor-group Follow This is signaling Shell has made positive strides. The Anglo-Dutch oil major recently set concrete targets to cut its carbon footprint and said it will take responsibility for reducing its customers’ emissions. It disagrees with some lobby groups it is a member of, which may compel the agencies to stop blocking climate policies.