Pension funds call on Shell to set stronger climate goals

Scottish Widows, Nest, and LGPS funds among shareholders calling for action

Michael Holder
clock • 4 min read
Organised by shareholder campaign group Follow This, the resolution currently has the backing of around 5% of Shell's stock | Credit: iStock
Image:

Organised by shareholder campaign group Follow This, the resolution currently has the backing of around 5% of Shell's stock | Credit: iStock

Shell is facing mounting pressure from shareholders to ramp up its climate ambitions, with a group of major shareholders including two Local Government Pension Scheme (LGPS) funds today (16 January) filing a resolution demanding the oil and gas giant set emissions-reduction targets in line with the Paris Agreement.

The group of 27 shareholders include the LGPS pool Brunel Pensions Partnership and the Greater Manchester Pension Fund, as well as pension providers Scottish Widows and government-backed master tru...

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