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.
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