• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 8 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 14 hours Governments that wasted massive windfalls
  • 12 hours Let’s take a Historical walk around the Rig
  • 14 hours We're freezing! Isn't it great? The carbon tax must be working!
  • 1 day Trump has changed into a World Leader
  • 14 hours Here is Why People Lose Money Trading Natural Gas
  • 1 day Beijing Must Face Reality That Taiwan is Independent
  • 44 mins Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 12 hours US Shale: Technology
  • 16 hours 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 22 hours Trump capitulated
  • 2 days Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)

Investors Demand Details On Shell’s Emission-Driven Bonus Pay

Shell

In March this year, Shell said that it is proposing a Directors’ Remuneration Policy, subject to shareholder approval at the 2017 Annual General Meeting (AGM) on May 23, 2017. The policy, if approved by shareholders, will be effective until the 2020 AGM, unless shareholders approve other policies in the meantime.

The proposed remuneration policy for executives includes, among other things, new metrics for greenhouse gas (GHG) management, and these now form 10 percent of the annual bonus scorecard, Shell said.

“We have moved to ensure the bonus reflects progress in managing Shell’s GHG emissions,” the company said back then.

But now, a week before the annual general meeting, several investor groups that hold shares in Shell want specific details in advance about how the group will calculate those bonuses, rather than just reporting directors’ remuneration for past periods, Reuters reported on Wednesday, citing representatives of investor groups.

“We would prefer to see public, pre-set greenhouse gas reduction targets using a methodology appropriate to the type of an emission,” Bruce Duguid, director in the stewardship team at Hermes Investment Management, told Reuters.

Shareholders also want Shell to include emissions from all operations, including upstream, in its remuneration policy plan, which has identified three specific business areas: refining, chemical plants, and flaring in upstream assets.

We would love to see that metric be expanded to cover the trickier issue of upstream emissions, from exploration and production. The more difficult issue of the carbon intensity of its reserves hasn't been addressed,” Matt Crossman of Rathbone Greenbank Investments told Reuters.

A climate-activist group of shareholders, named Follow This, is requesting that Shell set and publish targets for reducing emissions that are aligned with the goal of the Paris Climate Agreement to limit global warming to well below 2°C.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage


Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play