THE SYDNEY MORNING HERALD

‘Wolf pack’ attack win opens the door for more turmoil

June 1, 2021: The success of the activist shareholder assault on the Exxon board last week, along with a court ruling ordering Royal Dutch Shell to cut its carbon emissions faster than planned and a majority of Chevron shareholders voting for a reduction in its “scope three” emissions have been depicted as victories for climate activists.

While the Shell decision clearly fits into that category (although it will appeal) and Chevron probably also squeezes in, the Exxon experience isn’t quite as clear cut and illustrates the confusion and conflict, for companies and investors, that flow from the increasing aggression and impact of environmental, social and governance (ESG) funds. read more

fd.nl

This time Mark was the winner in the ‘battle of the Van B’s’

Carel Grol May 23, 2021

As an activist investor, Mark van Baal has been fighting for a greener Shell with Follow This for years. At the shareholders’ meeting he always speaks to the other ‘Van B.’ CEO Ben van Beurden. Follow This is unnecessary, Van Beurden believes, but Van Baal has since won over 30% of the shareholders.

In brief

Activist investor Follow This is gaining a foothold in the Shell shareholders’ meeting. read more

theGuardian.com

Influential investor joins shareholder rebellion over Shell’s climate plan

Legal & General Investment Management, Britain’s biggest fund manager, piles pressure on oil firm

It has emerged that Legal & General Investment Management (LGIM), one of the oldest fund managers in the City of London, was among investors behind a significant shareholder vote against Shell’s climate transition targets at the company’s annual meeting on Tuesday.

The asset manager, which is part of the insurer Legal & General and manages more than £1.2tn of assets, told the Guardian that it joined activists demanding faster progress because it did not believe the Anglo-Dutch company’s plan was credible. read more

ProactiveInvestors.co.uk

Shell’s climate plans do not go far enough, says UK’s biggest fund manager read more

Shareholders and IEA are putting pressure on Shell to green up faster

Carel Grol May 18, 2021

In brief

• 30% of Shell shareholders believe that the group is doing too little to make it greener.

• In addition, the International Energy Agency says that no more investment should be made in the extraction of fossil fuels.

• According to Mark van Baal, founder of Follow This, Shell will have to invest in sustainable energy on a large scale.

Never before have so many shareholders in Shell supported a motion calling on the oil company to ‘green’ more quickly. The motion received support from nearly one in three shareholders yesterday, doubling from last year. read more

Oil giant Shell secures investor backing for its energy transition strategy, but a growing minority rebel

Sam Meredit: PUBLISHED TUE, MAY 18 2021: 8:43 AM EDT

KEY POINTS

• Shell said that the company’s own resolution received 88.74% of votes.
• The result, while non-binding, was widely expected and ostensibly provides Shell with a shareholder mandate to proceed with its plans to reach net-zero emissions by 2050.
• However, 11% of shareholders voted against Shell’s own climate plans. This contrasted with 19 other resolutions put forward at Shell’s online AGM, where up to 99% of investors followed management advice.
• What’s more, it is perhaps a sharp increase in the number of shareholders choosing to support a separate motion that could be a catalyst for greater action.

LONDON — Royal Dutch Shell shareholders on Tuesday overwhelmingly voted in favor of the oil giant’s energy transition plans at its annual general meeting, though a growing minority defied recommendations and insisted the company do much more to tackle the climate emergency. read more

Shell shareholders overwhelmingly support energy transition plan

Nearly 90% of investors supported the energy giant’s strategy to reach net zero by 2050 by reducing fossil fuel output and embracing renewables

* Activist resolution wins 30% support at AGM

* Investors ramped up pressure on Shell to tackle climate

By Ron Bousso

LONDON, May 18 (Reuters) – Royal Dutch Shell shareholders overwhelmingly supported the company’s energy transition strategy on Tuesday, but rising backing for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change. read more

‘Say on Climate’ campaign faces first big test at investor meetings

Attracta Mooney in London and Billy Nauman in New York:  18 May 2021

One month ago, Chris Hohn, the billionaire hedge fund investor, urged investors in Royal Dutch Shell to vote against the oil major’s climate strategy. As the founding figure of the “Say on Climate” campaign, Hohn’s TCI Fund Management has enlisted global investors to press dozens of companies to set out their plans for dealing with their greenhouse gas emissions and to allow investors to regularly review the strategy. But speaking at an event last month, Hohn said it was “obvious” that shareholders should vote against Shell’s plans… read more

Royal Dutch Shell AGM (Tuesday 18th May)

by Graeme Evans from interactive investor

17th May 2021 09:01

Shell’s energy transition strategy will go before an advisory vote of shareholders as the oil giant takes its first steps towards becoming a net-zero emissions business by 2050.

Chief executive Ben van Beurden set out the strategy in February, outlining a focus on low-carbon operations such as wind, solar, biofuels and hydrogen over the next decade.

For the foreseeable future, Shell sees upstream operations continuing to deliver the energy supplies and cash needed to accelerate the transition towards low carbon businesses. read more

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. read more

Shell investor RWC to support alternate climate proposal at upcoming AGM

UK pensions group recommends members oppose Shell’s climate strategy at AGM

LONDON, April 28 (Reuters) – The UK’s Local Authority Pension Fund Forum said on Wednesday it recommended members oppose Royal Dutch Shell’s RDSA.L climate change strategy at the company’s forthcoming annual general meeting.

Instead, the group, whose 82 members manage over 300 billion pounds ($416.61 billion) in assets, said it backed a resolution from activist group Follow This calling for the company’s targets to be aligned with the Paris Agreement on climate. read more

Shell policies on directors’ pay and carbon emissions in spotlight

By Mark Williamson Group Business Correspondent

INVESTORS have signalled unease about Royal Dutch Shell’s boardroom pay policy at the company’s annual general meeting.

Around seven per cent of votes cast opposed approval of the directors’ remuneration policy of the oil giant at the meeting.

Chief executive Ban van Beurden’s total remuneration dropped by around £9m last year, from £17.8m in 2018, following a fall in the value of his performance-related awards. read more

‘Big win’ as Shell urged by more shareholder activists to meet climate targets

by David McPhee: 19/05/2020, 3:15 pm

A shareholder activist group has claimed a ‘big win’ after an increase in the number of investor votes urging Shell to meet its climate targets.

Follow This, which has led a campaign to encourage oil firms such BP, Shell, Chevron and Equinor to align their targets with the Paris Climate Agreement, saw 14.4% of investors vote for its resolution at Shell’s Annual General Meeting (AGM) – an increase from 5.5% in 2019. read more

Protesters chant ‘Shell must fall’ at oil major’s meeting

THE HAGUE (Reuters) – Dozens of demonstrators chanting “Shell must fall” gathered on Tuesday outside the oil giant’s headquarters in the Netherlands, where a virtual annual shareholders’ meeting was underway.

Roughly 30 activists from environmental groups Greenpeace, Extinction Rebellion and Code Red sang and danced in protest at the Hague offices of Royal Dutch Shell (RDSa.L).

Hundreds of activists had signed up to attend, but Dutch authorities allowed no more than 30 due to coronavirus distancing measures. read more

London, April 16, 2020

ROYAL DUTCH SHELL PLC

NOTICE OF 2020 ANNUAL GENERAL MEETING

• Attendance in person at the Annual General Meeting (“AGM”) not allowed
• London Shareholder Presentation cancelled
• Shareholders who want their votes to count must vote in advance of the AGM
• Measures taken, in line with government restrictions, to protect those that may have tried to attend the AGM and/or the London Shareholder Presentation, our employees, AGM staff and the public

Today, Royal Dutch Shell plc (“Shell”) posted notice of its AGM (the “Notice”), which can be viewed and downloaded from www.shell.com/agm. The Notice states that the AGM is scheduled to be held at Shell headquarters, at Carel van Bylandtlaan 16, 2596 HR, The Hague, The Netherlands at 10:00 (Dutch time) on Tuesday May 19, 2020.

Please note that the Notice emphasises that we are closely monitoring the impact of the COVID-19 virus and how this may affect the AGM arrangements. read more