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Oil giant Shell tries to hand off the climate-change fight to consumers and gets roasted

Oil giant Shell tries to hand off the climate-change fight to consumers and gets roasted by AOC, Greta Thunberg and thousands more

Also replying: U.S. Rep. Alexandria Ocasio-Cortez, the Democrat of New York and co-author of the most-progressive version of a Green New Deal that stalled in Congress. She said Anglo-Dutch Shell can’t shirk decades of climate-change responsibility. Her tweet was liked more than 380,000 times.

“Changing the energy system requires everyone to play their part,” Shell chimed in. “That’s what today’s #EnergyDebate was about. As for our part, we said last week that Shell will reshape its portfolio of assets and products to meet the cleaner energy needs of its customers in the coming decades.”

The climate update was part of the company earnings report. Already, sustainable-investing advocates had largely commended Shell for its relatively more ambitious climate-change pledges than U.S. rivals including Chevron CVX, -0.56%   and Exxon-Mobil XOM, -1.70%  .

Related:Shell joins BP with plan to cut emissions — leaves analysts asking where are Exxon and Chevron?

The London-traded stock price of Royal Dutch Shell has been cut by more than half this year, as the COVID-19 pandemic has crushed demand for energy. Environmental advocates say the pandemic recovery is the best time to rethink greener infrastructure and transportation, including U.S. Republicans who want a mix of energy including renewables and historically cheap natural gas.

Read:Royal Dutch Shell Stock Has Been Battered by the Pandemic. Here’s Why It Just Got 2 Upgrades

For President Trump and challenger Joe Biden, their wide gap on the future of energy markets, including fracking, a national climate-change response and the U.S. part in international efforts, has been a major feature in the competing campaigns that come to an end with Tuesday’s election.

Don’t miss:Markets are driving shift to green energy away from oil and gas dependence regardless of election winner — the difference is how fast

About the Author

Rachel Koning Beals
royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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