Even the Church of England Pensions Board, known more for its hymns than its hardline stance on hydrocarbons, had already ghosted Shell over its “climate stance” last year.
Posted by John Donovan: 8 Feb 24
In a move that’s as shocking as finding out water is wet, a Dutch pension fund, PFZW, has finally decided that maybe, just maybe, holding onto stocks in oil and gas behemoths like Shell, BP, and TotalEnergies isn’t the greenest idea they’ve had. So, they’ve ditched their shares in 310 oil and gas companies, a divestment spree worth around €2.8 billion, because – surprise! – these companies are about as speedy as a snail on sedatives when it comes to cutting emissions.