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Methodist Church dumps Shell over ‘inadequate’ climate plans

Methodist Church dumps Shell over ‘inadequate’ climate plans

Attracta Mooney and Anjli Raval

The Methodist Church has sold out of Royal Dutch Shell over the oil major’s “inadequate” response to climate change, weeks before a shareholder vote on the company’s energy transition plans.

Epworth Investment Management, which is owned by the Methodist Church and oversees its investments, told the Financial Times it had sold almost £21m in shares because Shell’s plans were not aligned with the 2015 Paris accord. “The patience of the Church has run out…

The Methodist Church has sold out of several other oil and gas companies including BP in recent years but continued to invest in Shell until this month “in the hope that [it] would see more progress” on climate change.

FULL FT ARTICLE (PAYWALL)

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