Shell sees off controversial votes on climate change, CEO pay [Business News Network (BNN) Energy & Resources (Canada)]
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: Business News Network
Shell sees off controversial votes on climate change, CEO pay Royal Dutch Shell Plc has seen off the two most debated issues at its shareholder meeting -- the boss’s pay and responsibility in tackling climate change. But not without a degree of drama. The company won the backing of about 94 per cent of shareholders to not set specific emission-reduction targets, with Chief Executive Officer Ben van Beurden saying it is taking “leadership” on the issue. However, while almost 75 per cent of investors also approved the remuneration report, it faced stiffer resistance after an influential advisory firm asked them to reject the package. Van Beurden has said he understands best how to steer Europe’s largest oil and gas company through a life-changing energy transition, and is several steps ahead of what activist shareholders are demanding. A group of investors, who together manage more than US$10 trillion of funds, last week wanted oil companies globally to take tougher action on emissions.
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