Oil major Royal Dutch Shell is facing rising pressure from shareholders to shield its business from climate change threats and to play a bigger role in lowering global carbon emissions.
Activist shareholder group Follow This, representing some of Shell’s retail shareholders, will put forward a resolution at next year’s annual shareholder meeting requesting Shell to set targets for annual greenhouse gas emissions reductions, its founder told Reuters.
“We have talked to a lot of the major shareholders and they gave us input for the resolution. We have good hope that there will be large shareholders who will support this before the AGM,” said Mark van Baal.
Follow This found little support for its resolution to invest fossil fuel profits in renewable energy at this year’s annual general meeting in May, with only 3 percent of shareholders backing it, but the momentum to act on climate issues has grown since.
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