Published on 15 Jan 2024 on Zacks via Yahoo Finance

Shell (SHEL) Investors Demand Aggressive Emission Reduction

Shell plc’s SHEL investors, managing assets worth more than $4 trillion, have teamed up with climate activist group Follow This to increase pressure on the company to drastically reduce its greenhouse gas emissions.

The coalition, consisting of 27 investors, includes major players such as Europe's largest asset manager, Amundi SA, Scottish Widows, Candriam, Rathbones Group and Edmond de Rothschild Asset Management. Collectively, they hold around 5% of Shell's stock, according to Follow This.

The investors and activists plan to co-file shareholder resolutions, urging Shell to align its emissions reduction goals with the Paris Climate Agreement. Notably, the resolution focuses on Scope 3 emissions, which encompass the greenhouse gases emitted when consumers use oil products that constitute a significant portion of the overall emissions from oil companies.