Shell climate plan ruling holds lessons for investors
Judge in court action brought by Dutch activists described Shell climate plan as “rather intangible, undefined and non-binding”.
Image: Tomeqs/Shutterstock.com
The oil industry experienced a landmark moment last week. A Dutch court ruled that Shell’s climate action plan fell far short of what was expected. And while the fossil fuel industry may be looking on aghast, there are lessons for investors too.
Shell had been making headlines for at least a week before the court ruling in the Netherlands on the 26 May because of its annual meeting, a few days earlier, and a looming “say on climate” vote on the company’s plans for cutting carbon emissions.
Despite much speculation, Shell’s plan received 89% shareholder approval—a hefty number although short of the 95% considered overwhelming
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda
Related Stories
-
Experts set to explore the evolution of governance
Conference will see academics and campaigners discuss corporate governance evolution.
-
Criminal Finances Bill receives Royal Assent
A Bill to extend the powers of enforcement agencies to recover the proceeds of crime, tackle money laundering, tax evasion and corruption, and combat the financing of terrorism, has received Royal Assent.
-
FSB shines light on ‘poor payments culture’ of big UK business
Federation of Small Businesses report finds that 30% of payments are typically late.
