ESG & Investing
Shell Power Trader Quits Over Company’s Pivot Back to Oil
- Trader says Shell is putting profit before the environment
- Shell increased bet on natural gas in strategy revamp
This article is for subscribers only.
Shell Plc’s pivot back to oil and gas was too much for one of the company’s power traders.
After the company announced its plan to shift a larger proportion of its investment into fossil fuels in the coming years, Steffen Krutzinna decided to quit, according a post on LinkedIn. The change in strategy, announced by Chief Executive Officer Wael Sawan last week, showed Shell is putting short-term profits above social and environmental responsibilities, the trader wrote.