LONDON - Royal Dutch Shell on Tuesday became the first major oil and gas company to announce plans to leave a leading U.S. refining lobby due to disagreement on climate policies.
The review is part of Shell’s drive to increase transparency and show investors it is in line with the 2015 Paris climate agreement’s goals to limit global warming by reducing carbon emissions to a net zero by the end of the century. Shell said it also disagreed with AFPM’s opposition to a price on carbon and action on low-carbon technologies.“Like any family, we aren’t always fully aligned on every policy, but we always strive to reach consensus positions on policies,” Thompson said in a statement.
Shell’s review was welcomed by Adam Matthews, director of ethics and engagement for the Church of England Pensions Board, which invests in Shell and led discussions with the company over its climate policy.“With this review Shell have set the benchmark for best practice on corporate climate lobbying not just within oil and gas but across all industries. The challenge now is for others to follow suit.
Last year, Shell caved in to investor pressure over climate change, setting out plans to introduce industry-leading carbon emissions targets linked to executive pay.
Wow important news Shell disagrees with Republicans & Trump by leaving a Carbon based Lobby Group that doesn’t support Climate Change. Shell’s CEO is aligning Shell with the Paris Climate Accord & a net zero of Carbon emissions. Again Republicans are on the wrong side of Change.
Pretty sad when a major oil company has a more progressive climate change policy than the President of the United States.
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