Big Oil Braces for Climate Votes as Investor Pressure Mounts
Laura Hurst, Bloomberg News Idle drilling rigs near Midland, Texas, U.S, in February. Photographer: Matthew Busch/Bloomberg , Bloomberg
(Bloomberg) As Europeâs oil majors prepare to host their annual shareholder meetings, one topic is garnering almost all the attention.
Climate change looms large for Royal Dutch Shell Plc, BP Plc and Total SE, with investors at all three energy giants calling for greater action. Shareholder resolutions on cutting carbon emissions are set to dominate this monthâs AGMs, even as the companies talk up their own, competing proposals.
As Europe s oil majors prepare to host their annual shareholder meetings, one topic is garnering almost all the attention.
(Bloomberg) As Europe’s oil majors prepare to host their annual shareholder meetings, one topic is garnering almost all the attention.
Climate change looms large for Royal Dutch Shell Plc, BP Plc and Total SE, with investors at all three energy giants calling for greater action. Shareholder resolutions on cutting carbon emissions are set to dominate this month’s AGMs, even as the companies talk up their own, competing proposals.
Key activist group Follow This, which has been a thorn in their side in recent years, is putting forward a motion at BP on May 12 and Shell six days later, urging the companies to set emission goals aligned with the Paris Agreement.
Pensana plans $125M rare earth separation facility in England
UK-based Pensanaplans to build, subject to funding, a US$125-million sustainable rare earth separation facility at the Saltend Chemicals Park (“SCP”) in Humber, UK. Targeted production is around 12,500 annualized tonnes of rare earth oxides, including 4,500 tonnes of magnet metal rare earth oxides (NdPr), which would represent approximately 5% of 2025 projected world demand.
The Saltend plant would purify rare earth sulfates, which would be imported from the company’s Longonjo mine in Angola.
Saltend has the potential to become the first major separation facility to be established in over a decade one of only three major producers outside China at a critical juncture when Europe depends on China for 98% of its rare earth magnets.
By Reuters Staff
3 Min Read
LONDON (Reuters) - Royal Dutch Shell’s climate change strategy does not go far enough and investors should advise against it at an upcoming meeting, a UK pension funds group said on Wednesday.
FILE PHOTO: A Shell logo is seen at a gas station in Buenos Aires, Argentina, March 12, 2018. REUTERS/Marcos Brindicci
Shell has asked investors to vote on its energy transition strategy, although the vote is advisory only.
Its plans call for reaching net zero carbon emissions by 2050 supported by buyers of its fossil fuels investing in carbon offsets from nature-based or carbon capture projects.
Interview – Adam Matthews, Church of England Pensions Board: “In five years you will see a very different landscape in tailings management”
Adam Matthews, investment team director, Church of England Pensions Board (Image: Church of England Pensions Board)
The Global Tailings Review (GTR) released last year the first-ever Global Industry Standard on Tailings Management, aimed at strengthening current best practices around tailings dams in the mining sector.
The standard is the result of a more than one-year process started by the United Nations Environment Program, Principles for Responsible Investment (PRI) and the International Council on Metals and Mining (ICMM).
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