Shell has recently announced, in a joint statement with institutional investors, on behalf of Climate Action 100+ on investor collaboration, that it has set short-term targets as part of its long term ambition to reduce the Net Carbon Footprint of its energy products, and the Company intends to link its executive remuneration to these targets, subject to Shareholder approval.
The Environment Agency Pension Fund is part of Climate Action 100+ and have helped develop the joint statement as part of a leadership group of institutional investors, and Shell. These institutional investors manage assets of more than $32 Trillion.
Investors can track Shell’s performance through the use of an independent academic tool - the Transitional Pathway Initiative (TPI) of which the EAPF is a Co-Chair.
Emma Howard Boyd, Environment Agency Chair of our Investment Sub Committee, has released a quote as part of the announcement:
"The recent IPCC report has shown that we have 12 years to step up and take action. As the world gathers at COP 24 in Poland, we hope that this unique joint statement between institutional investors and an oil and gas major, will inspire other leaders to take bold action. We would encourage the rest of the sector to follow Shell's lead."
Download full details of the Joint statement and Shell’s Climate targets.