Shell is braced for its largest climate rebellion this week as shareholders face the choice between backing the oil giant’s carbon-cutting plans or siding with an activist investor who is calling for tougher emissions targets. With its annual meeting planned for Tuesday, the Anglo-Dutch company has called on its investors to vote against a shareholder resolution from campaign group Follow This in favour of its own plans to reduce its emissions to “net zero” by 2050. The milestone battle will take place after BP saw support among its shareholders for the Follow This campaign double in a similar vote last week. The activists were ultimately defeated, but won 21.1% of shareholder support, up from just over 8% when Follow This put forward a resolution in 2019.
Observer 16th May 2021 read more »