Shell boss says no plans to change strategy despite emissions ruling

  • Date: 29-Jul-2021
  • Source: The Guardian
  • Sector:Economy
  • Country:Gulf
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Shell boss says no plans to change strategy despite emissions ruling

Royal Dutch Shell has no plans to change its strategy despite a landmark Netherlands court ruling calling for the company to make a 45% cut to its carbon emissions by the end of the decade, according to the oil giant's chief executive.

Ben van Beurden denied the company would need to change its plans to meet the tougher court-ordered climate targets on Thursday, as he revealed a multibillion dollar shareholder windfall for Shell investors and better than expected quarterly profits.

Shell plans to appeal the court's ruling, which was handed down shortly after 30% of its shareholders, including some of its biggest investors, rebelled against the board's strategy. They voted in favour of activist investors who want Shell to set firm targets to wind down fossil fuel production.