Balanced News: Oil giant Shell braces for shareholder revolt over climate plans after record profits

Climate-focused investors, including Dutch activist investor Follow This, are set to ramp up pressure on oil giant Shell at its annual general meeting. The small investor and campaign group has tabled a resolution calling on Shell to align its climate targets with the Paris Agreement and commit to absolute carbon emissions cuts by 2030. Further investors have said they will vote against or recommend a vote against the re-appointment of Shell Chairman Andrew Mackenzie. Despite this, Shell has recommended shareholders vote against the motion, describing it as “unclear, generic and would create confusion as to Board and shareholder accountabilities.”