The news is that Shell did know the consequences of burning petrofuels and lied to the public… and should be held financially accountable. This image is wonderfully full of all kinds of things. I’m particularly fond of the antennae / stacks.
Climate change activists have won a big legal victory against oil giant Royal Dutch Shell. A Dutch court ruled Wednesday that the company must reduce its greenhouse gas emissions 45% by 2030, based on 2019 levels.
The case could set a precedent for similar lawsuits against huge oil companies that operate across the globe.
The ruling applies to Shell and its suppliers and covers not only the companies’ emissions but also emissions from products burned by its customers.
Chevron Corp (CVX.N) shareholders on Wednesday voted in favor of a proposal to cut emissions generated by the use of the company’s products, a move that underscores growing investor push at energy companies to reduce their carbon footprint.
Shareholders voted 61% in favor of the proposal to cut so called “Scope 3” emissions, according to a preliminary count announced by Chevron at its annual general meeting.
Although the proposal does not require Chevron to set a target of how much it needs to cut emissions or by when, the overwhelming support for it shows growing investor frustration with companies, which, they believe, are not doing enough to tackle climate change.
Exxon Mobil said on Monday it would add two more board members, including one with climate experience, just days before a shareholder vote on whether to back new directors supported by activist investors unhappy with its record on climate change and financial performance.
The battle is the largest boardroom showdown yet focused on climate concerns at a major energy company. Exxon has been criticized for moving more slowly than other global oil giants in renewable energy investment. Last year it lost $22 billion when crude prices collapsed, leaving it heavily indebted after years of overspending, largely chasing oil and gas reserves.
On Wednesday, shareholders will decide whether to back Exxon’s 12 current directors or whether to replace some of them with four candidates from activist hedge fund Engine No.1, supported by investors and proxy advisory firms anxious about Exxon’s performance. Chief Executive Darren Woods is not among the directors targeted.
Concretionist almost 3 years ago
The news is that Shell did know the consequences of burning petrofuels and lied to the public… and should be held financially accountable. This image is wonderfully full of all kinds of things. I’m particularly fond of the antennae / stacks.
briangj2 almost 3 years ago
Climate change activists have won a big legal victory against oil giant Royal Dutch Shell. A Dutch court ruled Wednesday that the company must reduce its greenhouse gas emissions 45% by 2030, based on 2019 levels.
The case could set a precedent for similar lawsuits against huge oil companies that operate across the globe.
The ruling applies to Shell and its suppliers and covers not only the companies’ emissions but also emissions from products burned by its customers.
https://www.npr.org/2021/05/26/1000475878/in-landmark-case-dutch-court-orders-shell-to-cut-its-carbon-emissions-faster
Chevron Corp (CVX.N) shareholders on Wednesday voted in favor of a proposal to cut emissions generated by the use of the company’s products, a move that underscores growing investor push at energy companies to reduce their carbon footprint.
Shareholders voted 61% in favor of the proposal to cut so called “Scope 3” emissions, according to a preliminary count announced by Chevron at its annual general meeting.
Although the proposal does not require Chevron to set a target of how much it needs to cut emissions or by when, the overwhelming support for it shows growing investor frustration with companies, which, they believe, are not doing enough to tackle climate change.
https://www.reuters.com/business/energy/chevron-shareholders-approve-proposal-cut-customer-emissions-2021-05-26/
briangj2 almost 3 years ago
Exxon Mobil said on Monday it would add two more board members, including one with climate experience, just days before a shareholder vote on whether to back new directors supported by activist investors unhappy with its record on climate change and financial performance.
The battle is the largest boardroom showdown yet focused on climate concerns at a major energy company. Exxon has been criticized for moving more slowly than other global oil giants in renewable energy investment. Last year it lost $22 billion when crude prices collapsed, leaving it heavily indebted after years of overspending, largely chasing oil and gas reserves.
On Wednesday, shareholders will decide whether to back Exxon’s 12 current directors or whether to replace some of them with four candidates from activist hedge fund Engine No.1, supported by investors and proxy advisory firms anxious about Exxon’s performance. Chief Executive Darren Woods is not among the directors targeted.
https://www.reuters.com/business/energy/exxon-vows-add-two-new-directors-ahead-bitter-proxy-fight-2021-05-24/
Michael G. almost 3 years ago
And the band played on.