Decarbonization does not follow a straight line, and isn’t Shell’s responsibility alone. Shell can take bolder steps to transition. We do not have sufficient evidence to prove that strategy is aligned with Paris Agreement. We make 3 recommandations : – Encourage management and board to stay committed to expected reduction in oil production of 1 to 2%. – Request more explicit low carbon strategy. Disclose concrete 2023 targets for low carbon, Capex plan to support plan, projection of sales related and commitment to accelerated targets – Explain how individual components of current carbon targets are contributing to reducing your company’s overall absolute emissions, including upstream and downstream.

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Continue ReadingDecarbonization does not follow a straight line, and isn’t Shell’s responsibility alone. Shell can take bolder steps to transition. We do not have sufficient evidence to prove that strategy is aligned with Paris Agreement. We make 3 recommandations : – Encourage management and board to stay committed to expected reduction in oil production of 1 to 2%. – Request more explicit low carbon strategy. Disclose concrete 2023 targets for low carbon, Capex plan to support plan, projection of sales related and commitment to accelerated targets – Explain how individual components of current carbon targets are contributing to reducing your company’s overall absolute emissions, including upstream and downstream.

Clear that wealth of civilization depends on natural capital and human capital. For at least 4 decades, oil companies have known very clearly that your actions are destroying those two forms of capital. A recent Guardian article states that oil companies will be demanded under international law to pay reparation not only to us all globally, but specifically to people in countries where extractions take place. Could you explain how these actions, which are based on 40 years of denial and active hiding of the truth from shareholders, and the world in general, skewing the media representation of your activies, how this is going to support shareholders in the future, when you have destroyed the basis of prosperity? You put a lot of the responsibility on customers to drive change. You have a lot of power on lobbying, need to look at skewing policies. You need to take your responsibility on destruction of human lives and ecosystem. You have the opportunity and power, you could own the motivation to do that, instead of greenwashing and making excuses just to make more money while the world burns.

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Continue ReadingClear that wealth of civilization depends on natural capital and human capital. For at least 4 decades, oil companies have known very clearly that your actions are destroying those two forms of capital. A recent Guardian article states that oil companies will be demanded under international law to pay reparation not only to us all globally, but specifically to people in countries where extractions take place. Could you explain how these actions, which are based on 40 years of denial and active hiding of the truth from shareholders, and the world in general, skewing the media representation of your activies, how this is going to support shareholders in the future, when you have destroyed the basis of prosperity? You put a lot of the responsibility on customers to drive change. You have a lot of power on lobbying, need to look at skewing policies. You need to take your responsibility on destruction of human lives and ecosystem. You have the opportunity and power, you could own the motivation to do that, instead of greenwashing and making excuses just to make more money while the world burns.

n 2021 Shell was a first mover on number of fronts: transition vote, scope 3 emissions etc. However, today they see a different path being taken. Shell has the highest Capex among its peers, record breaking profits. Investments in renewables are lower than BP for example. Short and medium terms targets are misaligned with limiting warming to 1.5°. Interests are not being served by short term approach Shell seems to be taking. They vote against the reelection of Chairman and all board members, as well as support for Follow This resolution. Today they vote, but in the future they are prepared to restrict investment in the company if needed. Will you return to the path you were on : prioritize long term, commit to phase down Capex in oil & gas, increase short and medium targets ?

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Continue Readingn 2021 Shell was a first mover on number of fronts: transition vote, scope 3 emissions etc. However, today they see a different path being taken. Shell has the highest Capex among its peers, record breaking profits. Investments in renewables are lower than BP for example. Short and medium terms targets are misaligned with limiting warming to 1.5°. Interests are not being served by short term approach Shell seems to be taking. They vote against the reelection of Chairman and all board members, as well as support for Follow This resolution. Today they vote, but in the future they are prepared to restrict investment in the company if needed. Will you return to the path you were on : prioritize long term, commit to phase down Capex in oil & gas, increase short and medium targets ?

Shell will play a crucial role in transition to net zero. 4 questions on future strategy addressed to M Sawan : 1. Elaborate on CEO statement saying “Shell is a great company, I want to make it a great investment”, what does that mean and why was it not before? 2. Could Shell commit to further improve the level of disclosure on green energy. Why is Shell guiding stable CAPEX for renewable business? 3. Shell mentions reduction of oil production to 2030. But importance of longevity. Achieved 2030 target on production already. What does it mean for upstream production going forward? 4. We have seen record profits and cash flow, should shareholders expect that mean higher dividends or higher investment? R&D budget for low carbon seems low for a company like Shell. Why does Shell doesn’t raise its R&D budget for renewables?

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Continue ReadingShell will play a crucial role in transition to net zero. 4 questions on future strategy addressed to M Sawan : 1. Elaborate on CEO statement saying “Shell is a great company, I want to make it a great investment”, what does that mean and why was it not before? 2. Could Shell commit to further improve the level of disclosure on green energy. Why is Shell guiding stable CAPEX for renewable business? 3. Shell mentions reduction of oil production to 2030. But importance of longevity. Achieved 2030 target on production already. What does it mean for upstream production going forward? 4. We have seen record profits and cash flow, should shareholders expect that mean higher dividends or higher investment? R&D budget for low carbon seems low for a company like Shell. Why does Shell doesn’t raise its R&D budget for renewables?

2 questions with respect to energy security scenario report – For the Sky 2050 scenario, you say companies prefer to generate cash for their investors rather than invest in additional production capacity. At what point would Shell follow this and return cash to investors instead of investing in additional production? – Do you see Shell’s recent statements leading to growing backlash, and how are you managing risks associated with significant societal activism, including new calls for financial reparation?

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Continue Reading2 questions with respect to energy security scenario report – For the Sky 2050 scenario, you say companies prefer to generate cash for their investors rather than invest in additional production capacity. At what point would Shell follow this and return cash to investors instead of investing in additional production? – Do you see Shell’s recent statements leading to growing backlash, and how are you managing risks associated with significant societal activism, including new calls for financial reparation?