Shareholders ask Shell to justify how LNG expansion fits within climate ambition
"The level of fossil gas production planned by Shell is not only environmentally dangerous, but creates financial risk for investors too."
Shell has targets to grow liquefied natural gas (LNG) production and distribution by up to 30% by 2030, but its shareholders want to know how this fits within the oil major’s plans to achieve net zero emissions by mid-century.
A shareholder resolution filed this week seeks to force Shell to disclose how its LNG-related demand forecast, production and sales targets, and new capital expenditure are consistent with its climate commitments, particularly its net zero target.
