Shell Shareholders Reject Activist Climate Resolution: Details - Shell (NYSE:SHEL)

Shareholders in British energy company Shell on Tuesday at its annual general meeting rejected an appeal by a group of investors who urged the firm in a resolution to re-tighten its climate targets. In March, Wael Sawan eased the carbon reduction target the company had set by 2030. Reuters reported.

Shell Shareholders Reject Activist Climate Resolution: Details - Shell (NYSE:SHEL)

Shell PLC (NYSE:SHEL) shareholders rejected a climate resolution by activist group Follow This, which aimed to align Shell's carbon targets with the Paris Agreement. Supported by investors managing $4 trillion, the proposal received 18.6% backing, down from last year's 20%. CEO Wael Sawan viewed the result as a vote of confidence in Shell's energy transition strategy, despite ongoing scrutiny and a significant legal challenge from a 2021 Dutch c…

Shell shareholders reject investor climate resolution

(Repeats to embed graphics in text) By Ron Bousso and Deep Kaushik Vakil LONDON (Reuters) -Shell shareholders on Tuesday overwhelmingly rejected a climate resolution filed by an activist group following a meeting punctuated by protests. The vote came after Shell weakened a 2030 carbon reduction target in March, citing expectations for strong gas demand and uncertainty in the energy transition, while focusing on more profitable operations, mainly…

Activist shareholder Follow This's climate proposal to force Shell to take more action against CO2 emissions received less support at the company's shareholders' meeting this year. This year, 27 institutional investors submitted the proposal for the first time with the organization founded by Mark van Baal, but this did not provide more support.