Shell plc is a British-Dutch multinational oil, gas and petrochemical company headquartered in The Hague, Netherlands.
Named as one of the 10 biggest emitters in the world from 1988 to 2015, Shell’s planned emissions from 2018 to 2030 amount to almost 1.6% of the world’s carbon budget over the equivalent period.
ACCR has engaged with Shell since 2021 on its climate change commitments, releasing multiple publications that analyse its decarbonisation commitments and strategies.
Shell’s latest LNG Outlook increases its forecast for LNG demand growth. The distance between Shell’s LNG demand projection and its net zero target has never been greater.
Following investor pressure Shell has increased disclosure of its lobbying in emerging markets. However, Shell is still omitting emerging markets it sees as key growth drivers for its LNG business.
ACCR has co-filed a shareholder resolution to Shell to justify the assumptions behind its LNG growth strategy and explain how it is consistent with its climate commitments.
ACCR has co-filed a shareholder resolution to Shell asking the company to justify the assumptions behind its LNG growth strategy and explain how it is consistent with its climate commitments.
Under the UK Corporate Governance Code, Shell will again have to consult with its shareholders, given the above 20% formal ‘against’ vote on its Energy Transition Strategy.
Shell plc will disclose information about its climate and energy lobbying in “5-10 emerging and developing markets that are significant for our strategy, before our 2025 AGM.”
Undisclosed lobbying in emerging markets may undermine Shell’s support for the Paris goals and foster unsustainable fossil fuel supply and demand lock-in.
The pillars of Shell’s decarbonisation strategy are built on weak foundations and require a major rethink if the company intends to play a meaningful role in the energy transition.
ACCR will be offering in-depth company-level climate analysis of internationally listed companies, via a new research group called Global Climate Insights (GCI).
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