At its annual general meeting in The Hague, 98.9% of votes supported the call for Shell to report on whether its activities were compatible with a pledge by governments to limit global warming to a 2C rise. The resolution was filed by 150 investors controlling billions of pounds’ worth of its shares, under the banner Aiming for A. It includes a ban on corporate bonuses for activities that damage the climate and a requirement to invest in renewable energy.
Several investors who backed the proposal praised Shell’s board for supporting the resolution, which was passed last month at BP. But the annual meeting, which lasted four and a half hours, was dominated by shareholders casting doubt on Shell’s climate change credentials and others criticising its continued efforts to extract fossil fuels.
Available at: http://www.theguardian.com/business/2015/may/19/climate-change-shell-annual-meeting-oil-global-warming-resolution-shareholders