Shareholder group calls on Shell to set stronger climate goals

27 global investors

Shell is facing mounting pressure from shareholders to ramp up its climate ambitions, with a group of 27 major global investors today (16 January) filing a resolution demanding the oil and gas giant set emissions-reduction targets in line with the Paris Agreement.

The group of shareholders collectively represent more than €3.9trn in assets under management and include Europe's largest asset manager Amundi, UK pensions giant Scottish Widows, and a host of other investors from Europe and the US. Top asset manager backing for shareholder ESG resolutions crashes in 2023 Organised by shareholder campaign group Follow This, the resolution currently has the backing of around five per cent of Shell's stock. It requests that the oil and gas giant align its medium-term emissions reduction targets with the Paris Agreement on climate change. Shell was o...