Shareholders in the Anglo-Dutch oil company Shell, including the Church of England, are urging its annual meeting to endorse new rules in response to climate change. In addition to the Church of England, advocates for the change include European pension funds and Dutch activists.
“I’m not expecting that it will pass but the resolution, is well-worded and we support its intent,” said Adam Matthews, head of engagement for church commissioners. “It’s something the board should be taking note of.”
The resolution is “not in the best interests of the company,” a Shell representative said. “The only realistic way that Shell could reduce its customers’ emissions would be by reducing the volume of products we sell to them. This would simply drive customers to other suppliers.”