Shell has hit the climate ball back into investors’ court. AntonyMCurrie
Royal Dutch Shell on April 2 said it would not renew its membership of the American Fuel & Petrochemical Manufacturers trade group in 2020. The oil producer said there was a “material misalignment” on climate policies between the two.
Shell also said its review of ties with 19 trade associations revealed “some misalignment” with nine other groups. The company intends to engage further with them “to promote climate-related policies that support the goal of the Paris Agreement.” Shell is one of 55 European companies that faced calls from a shareholder group in October to reassess their links with trade associations based on climate policies. Led by the Church of England Pensions Board and Swedish pension fund AP7, the group has $2 trillion in assets under management.
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