Spreadsheet-analysing investors in control of trillion-dollar funds are forcing polluters to change
Anjli Raval and Attracta Mooney in London: 27 December 2018
When an activist shareholder group last year launched a campaign to force Royal Dutch Shell to set hard targets for cutting carbon emissions, just 6 per cent of those eligible to vote backed the plan. Yet within months Shell had announced an “ambition” to halve its carbon footprint by 2050… This December it pledged to set firm short-term emissions targets from 2020 that will be tied to executive pay. “If we don’t meet them there will be consequences to my salary and others,” said Ben van Beurden, Shell’s chief executive. FULL FT ARTICLE
By Irina Slav – Dec 26, 2018, 10:00 AM CST
Shell plans to increase the annual amount of money it invests in renewable energy to US$4 billion, the supermajor’s head of gas and new energy, Maarten Wetselaar told The Guardian in an interview.
The figure is double the maximum current annual investment Shell has allocated for cleaner energy initiatives but the increase will only materialize if these initial investments prove to make financial sense.
“I would like my current business to be financially credible enough for not only the company, but shareholders, to want to double it and look at more,” Wetselaar told The Guardian.
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