Shell to quit US refining lobby over climate policies

FILE PHOTO: A logo for Royal Dutch Shell Shell is seen on a garage forecourt, March 6, 2014. Picture: REUTERS / NEIL HALL

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.

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. In 2018, Shell caved in to investor pressure over climate change, setting out plans to introduce industry-leading carbon emissions targets linked to executive pay.

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