Energy giant Royal Dutch Shell Plc. is reportedly has not fully addressed its investors’ concerns regarding emissions.
Follow This, Shell’s activist investor whose climate resolution garnered 30% votes from all investors, said that Shell’s silence about Scope 3 speaks volumes about its reluctance to engage with the fundamental concerns raised by shareholders.
On Shell’s annual general meeting (AGM), Follow This brought a motion urging the company to set targets for Scope 1, 2, and 3 emissions which are compliant with the goals of the Paris climate deal.
Scope 3 has been a particularly thorny issue even when energy majors have been urged by their shareholders for greater action on climate change. For Shell, emissions from gasoline and diesel represent more than 90% of their overall greenhouse gases.
The company has said it would continue to engage with shareholders and will be providing further updates on its energy transition progress at next year’s AGM.
