Written by Allister Thomas –
The UK Government has said it will encourage other oil and gas firms to follow Shell in linking executives’ pay packs to climate targets.
Earlier this week the energy major announced an unprecedented move to link remuneration to reducing its carbon footprint.
Climate groups widely welcomed the action, as Shell aims to make a 20% reduction by 20135 and 50% by 2050.
Starting in 2020, Shell will set the target each year, for the following three or five-year period.
In the House of Lords yesterday, the Bishop of St Albans, Alan Smith, asked about efforts to encourage more oil and gas firms to follow suit.