Oil companies face increasing investor pressure on climate change action [Seeking Alpha]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
US:NYSE Investor Relations:
shell.com/investors.html
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Source: Seeking Alpha
Oil companies face increasing investor pressure on climate change actionSome of the world's biggest fund managers are set toraise the pressure on oil and gas companies at upcoming annual shareholder meetings, worried that a lack of action over fighting climate change could risk their investments.A group of investors which oversee a combined $10.4T in assets plan to ttake up the issue at Royal Dutch Shell's (RDS.A,RDS.B) meeting this week, in which shareholders will vote on a resolution requesting the company set specific targets to tackle climate change.This week, a majority of investors at Anadarko Petroleum (NYSE:APC) approved a non-binding butsymbolically important resolution calling on APC to issue a report about how the company’s bottom line would fare in a world aggressively cutting carbon emissions.A vote on a similar proposal at Chesapeake Energy (NYSE:CHK) will not proceed after the company reportedlycommitted to produce the report by year’s end in an agreement with the New Y
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