• 2 days Nuclear Bomb = Nuclear War: Saudi Arabia Will Develop Nuclear Bomb If Iran Does
  • 2 days Statoil Changes Name
  • 2 days Tillerson just sacked ... how will market react?
  • 1 day Russian hackers targeted American energy grid
  • 1 day Is $71 As Good As It Gets For Oil Bulls This Year?
  • 2 days Petrobras Narrows 2017 Loss, Net Debt Falls Below $85bn
  • 2 days Proton battery-alternative for lithium?
  • 2 days Ford Recalls 1.38 Million Vehicles (North America) For Loose Steering Wheel Bolt
  • 1 day Oil Boom Will Help Ghana To Be One Of The Fastest Growing¨Economies By 2018!
  • 1 day Country With Biggest Oil Reserves Biggest Threat to World Economy
  • 2 days I vote for Exxon
  • 2 days UK vs. Russia - Britain Expels 23 Russian Diplomats Over Chemical Attack On Ex-Spy.
  • 2 days Why is gold soooo boring?
  • 2 days South Korea Would Suspend Five Coal - Fire Power Plants.
  • 1 day Spotify to file $1 billion IPO
Oil Prices Rise Despite Climbing Rig Count

Oil Prices Rise Despite Climbing Rig Count

The oil rig count rebounded…

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


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