UK asset manager Sarasin & Partners has sold nearly 20% of its Shell holdings, worth £ saying the oil and gas company’s spending plans are out of synch with international targets to battle climate change. 33.8m ( $42.2m ), claiming the oil and gas company’s spending plans are inconsistent with international climate change goals. between 2021 and 2025 , Shell , together with a group of investors calling themselves Shell 100 +, which included Sarasin , agreed a resolution to reduce the Anglo -Dutch company’s carbon emissions. Shell plans to increase between 2021 and 2025 spending annual to $30bn, up from $ 25bn . Of this, $ 2bn to $ 3bn will be spent on power and renewables. Sarasin will now review its remaining £120m holdings in Shell .
UK asset manager Sarasin & Partners has sold nearly 20% of its Shell holdings, worth £ 33.8m ( $42.2m ), claiming the oil and gas company’s spending plans are inconsistent with international climate change goals. between 2021 and 2025 , Shell , together with a group of investors calling themselves Shell 100 +, which included Sarasin , agreed a resolution to reduce the Anglo -Dutch company’s carbon emissions. Shell plans to increase between 2021 and 2025 spending annual to $30bn, up from $ 25bn . Of this, $ 2bn to $ 3bn will be spent on power and renewables. Sarasin will now review its remaining £120m holdings in Shell .