Activist shareholder group Follow This will put forward a resolution at 2017’s annual shareholder meeting, its founder told Reuters.
“We have voted against this deal because we think there is a much better way to spend billions: in renewable energy,” said Mark van Baal, founder of Follow This.
Mark Van Baal, who leads a group of “green” shareholders in Shell said: “There are a lot better ways to spend €50bn. We are afraid of Shell being the . . . new Kodak.”
Shell shareholders including the Church of England, European pension funds and Dutch activists will send a signal to the board of Shell this week by voting for it to set new climate change goals.