Shell AGM disrupted by protests as investors reject new emissions targets

(The Guardian, 23 May 2023) Bosses defend oil company against accusations it is not switching away from fossil fuels quickly enough.

Shell’s annual shareholder meeting in London descended into chaos with more than an hour of climate protests delaying the start of a meeting in which investors in the oil company rejected new targets for carbon emissions cuts.

The FTSE 100 oil company faced a shareholder vote backed by big pension funds and investors to set carbon emission reduction targets for 2030, while dozens of protesters called for an immediate end to fossil fuel production.

Climate protests have become a regular feature of annual meetings in recent years, with campaigns focused particularly on banks such as HSBC and Barclaysthat lend to fossil fuel projects as well as oil companies including Shell’s rival BP.

Wael Sawan, in his first annual meeting as Shell’s chief executive, and Andrew Mackenzie, Shell’s chair and the former chief executive of the mining company BHP, defended the company repeatedly against accusations that it was not switching from fossil fuels to renewable energy quickly enough.

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The Guardian, 23 May 2023: Shell AGM disrupted by protests as investors reject new emissions targets