Apparently, Royal Dutch Shell is set to reduce in short-term emission targets and attach these targets with executive pay, capitulating to increasing investor pressure regarding forming short-term emission goals. Shell, on the other hand, did not clarify the targets, plans to fix the emission target every year for the upcoming 3 or 5 Years span, starting in 2020 and subject to shareholder approval.
Shell aims to tie these targets and other steps to its exclusive remuneration policy, which will be placed to shareholder vote for the “Annual General Meeting in 2020.” Shell stated that the declaration is part of a force to boost transparency around the issue of climate change and meanwhile to set clear standards for performance. The major oil company has so far restricted investor calls to begin fixing the short-term emission targets. Previously in this year, Shell stated that shareholders voted against an application to fix and publish targets that are lined up with an aim of the Paris Climate Agreement to restrict the global warming, but that application was voted down during the 2018 annual meeting. Now Shell and a bunch of institutional financiers on behalf of “Climate Action 100+”—a program managed by investors with over US$32 Trillion in assets below management—together announced the initiative.
On a similar note, recently, Shell was in news as the oil major might begin LNG (Liquefied Natural Gas) to assist BPL (Bahamas Power and Light). International petroleum giant revealed lately that the company has its planned on introducing the idea of LNG to BPL for helping the electrical company with cleaner power generation and cost-effective in the Bahamas. Mark Regis—Shell Caribbean Country Chair—stated that the latest discussion with chiefs at BPL might probably pave the path for the company to start LNG to assist BPL with improving its power generation in the Bahamas.
Brent, a Bachelor of Commerce degree holder from a reputed university, has completed his 10 Years experience in the economics and banking news publications. He is currently on the verge of carving out his name in the Media Industry News firm. He also excels in penciling down articles related to science, region-specific, and technology news as well. Currently, the year’s of immense editorial knowledge gain is something Brent plans to use to focus on the business sector.