Shell urged to clarify climate targets as it braces for shareholder rebellion | NBIM, one of oil group’s largest investors, calls for ‘additional disclosures’ about green commitments ahead of AGM
Shell urged to clarify climate targets as it braces for shareholder rebellion | NBIM, one of oil group’s largest investors, calls for ‘additional disclosures’ about green commitments ahead of AGM
NBIM, one of oil group’s largest investors, calls for ‘additional disclosures’ about green commitments ahead of AGM
A real oil CEO horror story.
The Call is coming from inside the building!
Meanwhile, Exxon sues shareholders for wanting more green initiatives https://slrpnk.net/comment/8757029
Imagine owning a big share in an oil company and then being all shocked Pikachu face that they're not in any way sustainable. Just divest already
No, that's the opposite of what I want to happen. If they "divest" that means they're selling their stake in the company to someone else, who likely cares less about climate change. The company stock doesn't just disappear. Shareholders are the only ones in our current system who can have a meaningful impact on companies they own shares in. The people who hold companies to climate expectations are exactly the ones I want holding stock in those companies.
Oh, I agree. I was deliberately talking in investor terms because it's people who invest professionally who are being disingenuous here
I'm not very familiar with how public companies work, but I'm surprised that a shareholder with only 3% of ownership can make such demands and can excel such control. I understand they're the largest shareholder, but I could imagine a large portion of the remaining 97% would pay for now following the Paris accords since it may main less money for all investors on the future.
A recent study (still in peer review phase last I saw but the people who wrote it and good work) showed that the 1C rise in temperatures vs pre-industrial times (which we're already past) lowered GDP by 12% or more globally. The current 3C that many climate scientists are warning we're on track for could lower GDP by 50% or more.
Not following the Paris accords or stricter is actually going to hit stockholders hard if the study is accurate.