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Investors should beware the rising tyranny of social media campaign groups

Investors should  beware the rising tyranny of social media campaign groups

Article by Oliver Shah. The Sunday Times May 16, 2021. Page 9 Business Section

EXTRACT

On Tuesday, Shell investors will vote on a resolution from Dutch activist Follow This calling for the oil major to set “inspirational” targets for cutting carbon emissions in line with the Paris Agreement. Shell, run by Ben van Beurden, cut its dividend last year and has seen its shares slump by more than a third since January 2020. Follow This chalked up a big victory against Shell’s US rival ConocoPhillips last Tuesday, with 58% of investors backing its resolution that the company should take responsibility for so-called scope 3 emissions – the pollution created by users of its fuels.

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