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EnergyRoyal Dutch Shell investor RWC to back Follow This climate proposal at AGM
Simon Jessop
3 minute read
The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium January 30, 2019. REUTERS/Yves Herman/File Photo
Royal Dutch Shell (RDSa.L) investor RWC said on Thursday it planned to back a climate-related shareholder proposal put forward at the company s annual meeting by activist group Follow This.
RWC said the company s energy transition plans were not ambitious enough, lacked detail and did not put the company on a path to align with the goals of the Paris Agreement within the next decade.
United KingdomAdvisory firm PIRC slams Shell on climate strategy before AGM
Ron Bousso
1/2
The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium January 30, 2019. REUTERS/Yves Herman/File Photo
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Shareholder advisory PIRC recommended investors vote against Shell s non-binding resolution on its energy transition strategy on Tuesday, setting up a showdown at its annual general meeting next week.
The Pensions & Investment Research Consultants (PIRC), a major proxy advisory, said Royal Dutch Shell s (RDSa.L) strategy to cut emissions does not seem to have a clear plan for the competitive aspects of the energy transition .
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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.