Shell and BP under fire on boardroom pay policies
MARK WILLIAMSON: 10 May 2017
CAMPAIGNING group ShareAction has called on shareholders in Royal Dutch Shell and BP to vote down the oil and gas giants’ boardroom pay policies, which it says reward environmentally risky high-carbon strategies.
ShareAction said the remuneration policies of both groups were ‘misaligned with the interests of long-term shareholders’ as they did not do enough to encourage the firms to respond to the move to a low carbon economy.
“A cocktail of policy, technology and market-driven factors are brewing up a storm of uncertainty over the future of fossil fuels. To encourage oil executives to focus on ‘business as usual’ seems an imprudent approach to remuneration,” said Juliet Phillips, campaigns manager at ShareAction.
The organization complained that Shell’s bonus calculations were heavily weighted to the delivery of oil and gas projects and did little to encourage the firm to respond to increases in demand for low-carbon energies.
It said BP had gone further than Shell to remove volume related incentives but had not set clear timelines or milestones for transitioning to a low-carbon business model.
ShareAction has shared its concerns with shareholders in both companies. It has helped pension savers to write to their funds about voting down the pay policies.
A BP spokesperson said: it had worked closely with major shareholders to develop a new remuneration policy that will be presented at the 2017 AGM, adding: “We are pleased to see that the three largest proxy advisors have all reacted positively to the new policy.”
A Shell spokesperson said it had no comment to make on ShareAction’s claims.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
MORE DETAILS:
A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
