A group of investors has tabled resolutions urging four of the world's top oil and gas companies to set broad climate targets for 2030, reviving pressure on the sector after a year that saw governments shift their focus to energy security.
In the resolutions, the investors call on the companies to set targets to reduce by 2030 greenhouse gas emissions including those from fuel sold to customers, known as Scope 3 emissions, which account for the vast majority of the sector's pollution.on the oil and gas sector to help tackle climate change and the Follow This climate-related resolutions have drawn growing support among shareholders.more to higher energy prices and energy security following Russia's invasion of Ukraine.
"We recognize Shell has made tremendous improvement in its climate targets. Nevertheless, it still lacks an absolute 2030 target," Jean-Philippe Desmartin, head of Responsible Investment at Edmond de Rothschild Asset Management told Reuters.and targets to slash emissions to net-zero by 2050 by reducing oil and gas output and growing low-carbon and renewable energy businesses.
In the United States, 2022 saw a wave of efforts driven by Republican politicians and right-leaning investors to focus executives' attention away from environmental, social or governance themes.
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