Activist shareholders in Royal Dutch Shell are preparing a renewed push for the company to adopt more ambitious goals for tackling climate change. Shell is expected to face a shareholder resolution calling at its annual meeting in May for a radical shift away from fossil fuels, highlighting mounting pressure on the world’s largest oil and gas companies over their contributions to global warming. The Anglo-Dutch group has gone further than most peers by announcing an “ambition” last November to reduce its carbon footprint by 50 per cent by 2050, including its own emissions as well as those from the use of its products. However, climate activists are disputing Shell’s claim that its goal is in line with the Paris agreement – the 2015 international pact aimed at limiting global temperature rises to well below 2C above pre-industrial levels.
FT 25th March 2018 read more »