Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest. MORE

A coalition of investors submitted a shareholder resolution to Royal Dutch Shell plc.  The resolutions titled ‘Strategic Resilience for 2035 and Beyond’ call for company disclosures on:

  • ongoing operational emissions management;
  • asset portfolio resilience to the International Energy Agency’s (Idea’s) scenarios;
  • low-carbon energy research and development (R&D) and investment strategies;
  • relevant strategic key performance indicators (KPIs) and executive incentives; and
  • public policy positions relating to climate change.

Shell issued a statement recommending that shareholders support the resolution at the annual general meeting.

In securities lawyer parlance, Shell is a “foreign private issuer.” That means it is exempt from the SEC’s proxy rules.  As such, Shell’s position likely isn’t an immediate trend in the making for U.S. companies subject to the proxy rules.

ABOUT STINSON LEONARD STREET

Stinson Leonard Street LLP provides sophisticated transactional and litigation legal services to clients ranging from individuals and privately held enterprises to national and international public companies. As one of the 75 largest firms in the U.S., Stinson Leonard Street has more than 520 attorneys and offices in 14 cities, including Minneapolis, Mankato and St. Cloud, Minn.; Kansas City, St. Louis and Jefferson City, Mo.; Phoenix, Ariz.; Denver, Colo.; Washington, D.C.; Decatur, Ill.; Wichita and Overland Park, Kan.; Omaha, Neb.; and Bismarck, N.D.

The views expressed herein are the views of the blogger and not those of Stinson Leonard Street or any client.