Energy & Science
Shell Urges Shareholders to Reject Activist’s Climate Resolution
- Dutch group Follow This is seeking stricter emission targets
- Shell putting own climate progress plan to non-binding vote
Emissions rise from a Shell refinery in Louisiana.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Shell Plc’s board told shareholders to reject a Dutch activist group’s resolution that asks the energy company to set more stringent climate goals.
It said that adopting the Follow This vote, which wants the company’s policies to be more consistent with the Paris climate accord, “could result in unrealistic interim targets that are harmful” to its own energy transition strategy and good governance. To convince investors that its already doing enough, Shell will put its energy transition progress report to a non-binding vote at the annual shareholder meeting scheduled for May 24.