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A climate activist group is urging the US Securities and Exchange Commission to investigate whether Shell Plc’s claims about its investments in renewable energy are misleading to investors.
Global Witness said that it filed a complaint with the SEC’s Climate and ESG Task Force and through the agency’s tips portal over Shell’s statements on renewables. The London-based energy giant may have “materially misstated its financial commitment to renewable sources of energy,” the nonprofit said in a copy of the filing reviewed by Bloomberg News.