Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
Shell Coolcaesar/Wikimedia Commons
Business
Nature
Shell
Follow This
Ben van Beurden
Climate change
environmentally friendly
green energy
climate goals
NN
ABP
Corien Wortmann
Milieudefensie
Wednesday, 23 May 2018 - 12:00
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

Shell shareholders vote against climate resolution

Nearly all shareholders of Shell voted against a resolution by action group Follow This on Tuesday. The resolution called on Shell to impose stricter environmental targets. Almost 95 percent of the cast votes were against the resolution, ANP reports.

The board of the oil- and gas giant strongly advised its shareholders to vote against the resolution. According to Shell CEO Ben van Beurden, new measures are unnecessary because Shell already does a great deal for the switch to environmentally friendly energy sources. The Shell board also believes that the resolution would impose too many restrictions on the company, which would come at the expense of the company's competitive strength.

Follow This received support from insurer NN, who voted in favor of the resolution. According to the insurer, the objectives in the resolution are "a good way to stay on course in the energy transition".

Pension fund ABP abstained from voting. "ABP think it's premature to demand that Shell already reviews its ambition, as the resolution demands", the shareholder said on Tuesday, according to the news wire. ABP added that the Shell board should be held accountable if the environmental targets are not met. "Although Shell recently presented its ambition on climate policy, we unfortunately still do not see sufficient incentives for top management to achieve this ambition", ABP chairman Corien Wortmann said.

Environmental group Millieudefensie criticized the outcome of the vote. According to the group, the results mean that Shell does not have to adhere to the climate agreement. Last month Milieudefensie announced that it is filing a lawsuit against Shell in an effort to force the Dutch oil and gas company to adjust its policy to prevent further damage to the climate.

Follow us:

Latest stories

  • Shell counting day: 48,000 seashells counted on Dutch beaches
  • Michelin-starred restaurants fully booked despite high inflation
  • Crash involving three Porsches leaves four Dutch people dead in Germany
  • Six police officers suspended for inappropriate statements during Oranje match
  • Shell: Gas field in Groningen must be completely closed this year, in light of earthquakes
  • Childhood trauma affects women differently than men later in life, study finds

Top stories

  • Childhood trauma affects women differently than men later in life, study finds
  • Scientist Rebellion activists blindfold statues in the Netherlands, including Rembrandt statue
  • Suicide a growing trend as more young adults end their lives
  • 104 XR climate activists arrested at Eindhoven Airport; All detained XR protesters free again
  • Beginning of Spring: March exceptionally wet and quite gloomy this year
  • TikTok bringing massive queues to trendy spots in Amsterdam, annoying neighbors

© 2012-2023, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content