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Royal Dutch Shell faces demand to reveal all on climate change

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Screen Shot 2016-04-20 at 13.50.03Investors say Shell has failed to fully address the impact of lower oil & gas demand due to new technologies

Coalition says Shell’s climate change management could have a bearing on executive pay

Philip Waller23 May 2016

Campaigning investors have urged Royal Dutch Shell PLC (LON:RDSB) to be more upfront with its plans to handle climate change, saying it could affect executive pay.

The Aiming for A coalition says Shell has failed to fully address the impact of reduced demand for oil and gas because of new technologies such as carbon capture and electric cars.

The group acknowledged improvements made by the company, but demanded more risk and strategy disclosure.

It said investors with assets worth US$5.05trln, including Rathbone Greenbank Investments, will provide Shell with direct feedback on progress at Shell’s AGM on Tuesday.

Rathbone ethical research and engagement analyst and Aiming for A spokesman, Matt Crossman, said: “There remain areas which demand attention, not least how the management of the risks and opportunities from climate change work their way into executive incentives.”

The group claimed investors needed to know more about the specific nature of the gas assets in Shell’s portfolio following its merger with gas producer BG Group.

It said Shell’s current reports envisage only a small percentage of road transport being powered by renewable energy in 2040.

There are signs from the auto industry that the transition to electric vehicles is beginning to rapidly accelerate, posing a major threat to Shell’s assumptions about the future, it said.

The group also claimed Shell faced a risk from the possibility of slower–than-expected development of carbon capture and storage technology.

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