nbc news/Reuters
Climate activists score wins against Exxon, Shell and Chevron
“Today was a stark warning for Big Oil,” said Bess Joffe, of the Church Commissioners for England, with executives “being held to account by investors and lawmakers.”
It has not been a good few days for Big Oil.
Shareholders Wednesday rebuked the top two U.S. oil companies for dragging their feet on fighting climate change, while a Dutch court ruled that Royal Dutch Shell needs to accelerate cuts to greenhouse gas emissions.
“Today was a stark warning for Big Oil,” Bess Joffe, of the Church Commissioners for England, which manages the Church of England’s investment fund, said Wednesday. Executives were “being held to account by investors and lawmakers,” she added.
Exxon Mobil lost at least two board seats to an activist hedge fund and shareholders at Chevron endorsed a call to further reduce its emissions.
The Dutch court ordered Shell to slash its carbon dioxide emissions by 2030.
Dissident win
Shell said it would appeal, and analysts called the decision not the last word in the case.
Reuters
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