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Shell Defends Climate Goals, Rejects Shareholder Resolution As Damaging

Shell plc (NYSE:SHEL) urged shareholders in an AGM notice today to vote against an independent resolution, co-filed by a group of 27 investors, that demanded the company to set tighter climate targets. The resolution, led by activist shareholders called Follow This, will be voted on at Shell’s annual general meeting on May 21. The company stated, “Your Directors believe that Resolution 23 is against both good governance and shareholders’ interests, and also has negative consequences for our customers.” “The resolution, if approved, would have a material negative financial impact on ...