Shell Profit Doubles in Boost for Big Oil

Wall Street Journal | 31 January 2019

A group of more than 4,500 shareholders working under the umbrella of the Netherlands-based group Follow This have been urging Shell, BP PLC, Exxon Mobil Corp., Chevron Corp. and Equinor ASA to set and publish targets that are aligned with the goals of the accord and limit the rise in global temperatures to below 2°C.

Follow This founder Mark van Baal said “Shell is truly industry leading but is not aligned with Paris yet.”

The shareholders started advocating for the major oil companies to publish their targets in 2016. Now a wider group of investors is asking Exxon and Chevron to publish their carbon footprint reduction targets.

On climate matters, Shell is “ahead if the curve…when it comes to enforcing discipline and good behavior in relation to Paris,” said Mr. van Beurden. Last December, Shell said it would publish short-term emissions targets tied to executive pay. Other major oil companies are expected to follow suit, say industry experts.

But Shell’s targets still fall short of the necessary reductions, said Follow This member Mark van Baal. “Shell is truly industry leading but is not aligned with Paris yet,” he said.

Read the complete article of Neanda Salvaterra in the Wall Street Journal.