Daily Management Review

Shell’s C.E.O Gets Support From Wealth Fund Of Norway And Calls Upon Climate Goals In Energy Sector


05/24/2018


Major investors, like BNP Paribas, HSBC and others too are in favour of a climate agenda in the energy sector.



Shell’s C.E.O Gets Support From Wealth Fund Of Norway And Calls Upon Climate Goals In Energy Sector
The “$1 trillion sovereign wealth fund” of Norway, being the largest in the world, casted a vote against “a motion” that was presented during the Royal Dutch Shell’s general annual meeting, whereby urging the energy sectors’ giants to “set climate targets”.
 
Moreover, among long-term investors who have “$10.4 trillion of assets under management”, like “banks BNP Paribas” as well as “HSBC” among others also called upon the “energy giants” to set their “carbon emission” goals with a target lines aligned under the 2015 Paris Agreement.
 
Nearly 95% of the investors of Shell voted against the motion on Tuesday, May 22, 2018. According to Reuters:
“The fund also said it had voted in favour of the remuneration package of Chief Executive Ben van Beurden, worth 8.9 million euro (7.8 million pounds) in 2017, which was adopted by 75 percent of Shell investors on Tuesday”.
 
References:
reuters.com







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