Shell is called upon to formulate the concrete targets for reducing its Net Carbon Footprint

A group of 26 large institutional investors, members for the Institutional investors Group on Climate Change (IIGCC) that collectively represent $7.8 trn in assets under management, have asked TheRoyal Dutch Shellto formulate concrete actions for pursueing the ambition expressed by the company in November 2017, that is to seek to reduce the Net Carbon Footprint of its energy products by around 20% by 2035, and to deliver cuts consistent with societal ambition, embodied in the Paris Agreement by 2050.

IIGCC is a forum for investors to collaborate on climate change. Its mission is to mobilise capital for the low carbon future. The statement submitted to The Royal Dutch Shell aims at expressing a broad support to the Climate Action 100 +that is a five-year initiative led by investors to engage with the world’s largest corporate GHG emitters such as Royal Dutch Shell to act on climate change.

To date, 279 investors with nearly USD $30 trillion in assets under management have signed on to the initiative, that is equivalent to nearly one third of all assets under management.

As part of their collaborative engagement, investors from around the world commit to asking the 100 + companies to implement a strong governance framework governance on climate change, which clearly articulates the board’s accountability and oversight of climate change risk; take action to curb emissions and strengthen climate-related financial disclosures

By Katsiaryna Serada

Read the statement

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