A Shell spokesman dismissed the accusations. Read more at straitstimes.com.
LONDON - Shell Plc’s board faces a new front in climate litigation as a group of frustrated shareholders sue the oil giant’s directors in Britain.the group of investors are filing the first lawsuit of its kind against 11 members of the board, accusing them of failing to manage the company’s climate risks.
The Paris Agreement was adopted in 2015 with a goal of slowing global warming to well below 2C, compared to pre-industrial levels. With record temperatures across much of the planet in 2022, and a series of catastrophic weather events, the severe effects of climate change are already being felt. “Shell’s goal is to become a net zero emissions energy company by 2050,” the company said. “Appealing does not change this.”
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