Shareholder Group Urges Shell to Go Green
A Shell station with an EV charging station in Tumwater, WA. Washington State Dept. of Transportation / Flickr
When the shareholders of Royal Dutch Shell convene for their annual meeting this May, there will be a surprising item on the agenda.
A group of climate activists from the group Follow This, which urges people to buy shares in Shell in order to push the company towards renewable energy, will present a resolution urging the company to meaningfully increase its commitment to fighting climate change, the Financial Times reported Sunday.
Compared to other fossil fuel companies, the Financial Times reported that Royal Dutch Shell has taken a leadership role in greening the industry. In what it claimed was an effort to align itself with the Paris agreement, it committed in November to reduce its carbon footprint by 50 percent by 2050 and, in budgeting its footprint, included both its own emissions and those released in the use of its products.
However, the members of Follow This are among those who think Shell’s commitment will not be enough to keep global warming well below two degrees Celsius.
“The ambitions announced by Shell are inconsistent with the Paris agreement, in particular when taking into account expected global energy demand growth,” Follow This founder Mark van Baal told the Financial Times.
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