Proxy adviser PIRC recommends vote against Shell’s chair, annual report
PIRC also recommended voting against Shell Chairman Andrew Mackenzie, saying “the absence of adequate targets can only be viewed as an indicator of governance shortcomings.”
PIRC also advised voting against Shell’s Energy Transition resolution, it said, ahead of the company’s annual general meeting on May 23 in London.
Shell aims to cut the intensity of planet-warming gases across its portfolio and the use of its products by 20% by 2030 and 100% by 2050. It has ruled out setting absolute emissions cuts targets, including on combustion.
Proxy advisory firm Institutional Shareholder Services(ISS), whose recommendations steer many investors’ voting, on Saturday, recommended Shell shareholders vote against the Follow This proposal, while acknowledging the merits of the proposal.
