Shell’s technology centre in Amsterdam. Photo: Shell Media Library Financial campaign group Follow This has withdrawn a climate change motion scheduled to be debated at Shell’s next AGM due to the ‘long term climate targets Shell has drawn up’. The campaign group said after talks with six institutional investors, it would give Shell ‘breathing space’ and that the company had now become an ‘industry leader’ on emissions targets. Last month Shell adopted its first in short-term carbon emissions target and earlier it agreed to link progress on climate targets to executive pay. ‘We have therefore decided to give Shell time to bring that climate ambition into line with the Paris climate agreement,’ Follow This founder Mark van Baal said in a statement. The campaign group also targets BP, ExxonMobil, Equinor and Chevron with shareholder resolutions. Court action Meanwhile, Dutch environmental group Milieudefensie has filed court papers to try to stop the Anglo Dutch oil giant drilling for gas and oil, and to ensure it meets climate change targets. Some 17,000 people and six organisations have signed up to Milieudefensie’s call for co-defendants in the case, which the green group hopes will lead to a judge ‘forcing Shell to stop being a major cause of climate change.’ Last week Shell said it is leaving a major US oil lobby group because it disagrees with the group’s policies on climate change. After reviewing its 19 industry memberships, Shell said it would not renew its membership of the American Fuel and Petrochemical Manufacturers lobby next year because of ‘material misalignment’. DutchNews.nl has been free for 13 years, but now we are asking our readers to help. Your donation will enable us to keep providing you with fair and accurate news and features about all things Dutch. Donate via Ideal, credit card or Paypal.
The activist shareholder group Follow This has withdrawn a motion that was set to be debated at Shell's next AGM after the company drew up new plans for its emissions targets. The group said it was giving Shell breathing space to implement the plans followings talks with six institutional investors. Follow This, which is also targeting BP, ExxonMobil, Equinor and Chevron with similar measures, has been applying sustained pressure on the firm to improve its environmental efforts.