Posted by John Donovan: 21 May 2024
In a shocking display of corporate bravado and environmental disdain, Shell’s shareholders once again proved they couldn’t care less about the planet. At Tuesday’s annual general meeting, they overwhelmingly rejected a climate resolution filed by the activist group Follow This, despite the backdrop of vehement protests.
This climate resolution, mind you, was backed by 27 investors managing a whopping $4 trillion. These forward-thinkers dared to suggest that Shell should align its carbon emissions reduction targets with the Paris Climate Agreement. The nerve! But alas, only 18.6% of the shareholders supported it, a decline from last year’s modest 20%. Apparently, Shell’s board had already made it crystal clear that such eco-friendly suggestions were unwelcome.