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Church of England Pensions Board backs new Shell energy-transition plan

Earlier this week, institutions of the Anglican, Roman Catholic, Methodist, Presbyterian, and Baptist denominations in 11 countries announced their disinvestment from fossil fuels.

C of E Pensions Board backs new Shell energy-transition plan

By JOE WARE: 21 MAY 2021

THE Church of England Pensions Board voted on Tuesday with the oil giant Shell to pass the company’s new energy transition plan. Under the plan, gas production would increase by 20 per cent.

The AGM vote took place on the same day as the International Energy Agency released a report that stated that the exploitation and development of new oil and gas fields must stop this year if the world was to reach net-zero emissions by 2050 — a goal of the Paris Agreement.

Shell’s new strategy, however, involves plans to seek out new fossil-fuel reserves for years to come. The company said: “We have attractive exploration opportunities in the first half of this decade.”

Earlier this week, institutions of the Anglican, Roman Catholic, Methodist, Presbyterian, and Baptist denominations in 11 countries announced their disinvestment from fossil fuels.

Joe Ware is Senior Climate Journalist at Christian Aid.

FULL ARTICLE

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