Posted by John Donovan: 2 May 2024
In a truly laughable turn of events, big investors in Shell are urging their fellow shareholders to support greater climate action. Because nothing says “let’s save the planet” like being one of the world’s largest fossil fuel producers, right?
These investors, including the likes of Amundi and Axa Investment Managers, are collectively clutching about 2.5 percent of Shell’s shares and have filed a resolution calling on the company to align its greenhouse gas emissions targets with the Paris Agreement. Because apparently, Shell’s current “targets and ambitions” – you know, the ones that conveniently ignore the impending climate catastrophe – just aren’t cutting it.