Activists, shareholders notch climate victories vs ExxonMobil, Shell, Chevron

Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into reducing carbon emissions.

  • In a Dutch court, Shell was ordered to reduce carbon dioxide emissions by 45% from 2019 levels, and to do so by 2030 - doubling its current pace.
  • Activist shareholders Engine No1 will hold two seats on the board of ExxonMobil after major investors including BlackRock and Vanguard voted in favor of the appointments.
  • And Chevron shareholders approved proposals that called for cuts in scope three emissions, although targets have not been set.
The trio of cases underscores growing momentum for publicly traded companies - and those running them - to be held accountable for emissions

"The case...

Published

Archie Hunter

May 27, 2021

16:38 GMT

London