Overview

• A coalition of 27 investors, owning about 5% of Shell's shares, back a resolution by Dutch activist group Follow This, urging Shell to align its emissions reduction targets with the Paris Climate Agreement.
• The resolution calls for Shell to set medium-term targets for scope 3 greenhouse gas emissions, which include all emissions that companies do not either generate directly or purchase for their own energy needs.
• The resolution will be brought to a vote at Shell's annual general meeting later this year.
• Shell's board has previously advised shareholders that the Follow This resolution was unrealistic and simplistic, and was against the interests of the company and its shareholders.
• Shell is expected to face growing opposition from ethical investors and climate activists after abandoning its plans to reduce its oil and gas production before the end of the decade.