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Greenwash

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

theguardian.com/uk

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

The fossil fuel firm Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects, and plans to spend the equivalent of half the current market for nature offsets every year, the Guardian can reveal.

But a joint investigation by the Guardian, Die Zeit and Source Material into Verra, the world’s leading carbon standard for the rapidly growing $2bn voluntary offsets market, has found, based on analysis of a significant percentage of the projects, that more than 90% of their rainforest offset credits – among the most commonly used by companies – are likely to be “phantom credits” and do not represent genuine carbon reductions. read more

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Shell launches renewable power brand in Texas under a new branch of the company

Houston Chronicle

Shell launches renewable power brand in Texas under a new branch of the company

Shell said Tuesday it is entering the residential power market in Texas, offering renewable power to Texans under a new branch of the company.

The launch of Shell Energy Solutions, a Texas power retailer, marks Shell’s entry into the U.S. power market. Its power plans will offer perks for electric vehicle drivers and homeowners with solar panels.

The move is the latest in a series of steps by the oil giant to reach net-zero emissions by 2050 and reposition itself more broadly as an energy provider as the energy transition accelerates. It follows an announcement last week that it had bought a Houston-based gas station and convenience store chain Landmark as the global oil giant positions itself to provide charging stations and motor fuels of the future. read more

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Extinction Rebellion mob cause traffic NIGHTMARE in London

MailOnline

Extinction Rebellion mob cause traffic NIGHTMARE in London

  • Earlier today the eco fanatics climbed onto a Shell oil tanker at a petrol station in Bayswater, London

  • Along with eco-mob Just Stop Oil, XR have brought 16 days of disruption to traffic, oil depots and commuters

  • Comes after activists blocked four of London’s busiest bridges on Good Friday – causing traffic chaos

  • Several oil firms secured injunctions to stop environmental protesters from targeting fuel processing sites 

A mob of Extinction Rebellion protesters have swamped London’s Marble Arch, glueing themselves to a limousine and bringing traffic to a standstill.

The eco-fanatic rabble have once again brought chaos to the streets of the capital as they launched a series of ‘disruptions’ on a sixteenth days of protests alongside Just Stop Oil activists.

XR members convened in Hyde Park earlier today before one group – which included two former Olympians – climbed onto a Shell oil tanker at nearby Bayswater, leading to six arrests. read more

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Shell’s Board Of Directors Sued For Not Doing Enough For Climate Change

Nasdaq.com

Shell’s Board Of Directors Sued For Not Doing Enough For Climate Change

RTTNews.com RTTNews: PUBLISHED MAR 15, 2022 3:54PM EDT

(RTTNews) – Shell’s Board of Directors sued for not doing enough for climate change The Board of British energy company Shell Plc (SHEL) is being sued for not taking enough steps to help the company make the transition away from fossil fuels.

Environmental law firm ClientEarth, which is also a Shell shareholder, said on Tuesday that it had notified the company of its lawsuit against Shell’s 13 executive and non-executive directors. The law firm has said that the Board’s failure to put in place a climate plan, which aligns with the Paris Agreement must be considered a breach of their duties as per British law. read more

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‘Disgusted’ Powershop customers abandon ship over Shell takeover

THE NEW DAILY

‘Disgusted’ Powershop customers abandon ship over Shell takeover

: November 23, 2021

When oil giant Shell announced it was buying renewable electricity provider Powershop Australia on Monday, many of its 185,000 customers instantly switched providers.

Powershop Australia launched in 2012 and had gained a reputation for being 100 per cent carbon neutral – a credential many now see as tainted by the Shell acquisition.

“I was just disgusted and amazed that they thought they could get away with that, without people caring or noticing,” former customer Kristen O’Connell told The New Daily. read more

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Shell should be broken up, says US investor Daniel Loeb

The Times

Shell should be broken up, says US investor Daniel Loeb

Oil major cannot be ‘all things to all people’

Callum JonesThe Times

A US corporate raider has amassed a large stake in Royal Dutch Shell and called for a break-up to end the oil major’s efforts to be “all things to all people”.

Third Point accused Shell of attempting to “do it all” amid conflicting demands for the Anglo-Dutch group to invest in renewable energy while capitalising on its legacy oil and gas assets.

Shell should be split into at least two businesses, Third Point argued on the eve of the company’s latest results, to draw a line under a “difficult two decades” for its shareholders. read more

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Consumer Champion Joe Lycett vs the Oil Giant Shell

The consumer champion will release an hour-long Channel 4 special to mark the COP26  United Nations Climate Change Conference

By Steve Hughes Francesca Librae
  • 22:34, 18 OCT 2021

The outlandish star recently made headlines after he danced and showed a parody advert outside oil giant Shell’s offices in London to raise awareness about “greenwashing”.

The star, who is a regularly on British comedy panel shows such as, Never Mind the Buzzcocks and 8 Out of 10 Cats, arrived outside the offices in a yellow bus painted with a mural of a mock Shell advert featuring the caption “We’re turning our carbon emissions green for earth day”. read more

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Oil giant Shell set to appeal against ruling on carbon emissions

The Guardian

Oil giant Shell set to appeal against ruling on carbon emissions

Company hopes to get Dutch court ruling overturned which called for it to cut emissions faster

Jillian Ambrose: Tue 20 Jul 2021 16.42 BST

Royal Dutch Shell has confirmed that it will appeal against the landmark Dutch court ruling calling for the oil giant to cut its carbon emissions faster.

A court in The Hague reached the milestone verdict in May this year after Friends of the Earth and over 17,000 co-plaintiffs successfully argued that Shell had been aware of the dangerous consequences of CO2 emissions for decades, and that its climate targets did not go far enough. read more

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Revealed: Fossil fuel companies lobby UK government for gas ‘compromise’ ahead of COP26

channel4.com

Revealed: Fossil fuel companies lobby UK government for gas ‘compromise’ ahead of COP26  

Washington Correspondent: 7 July 2021

Some of the world’s largest fossil fuel companies have lobbied the UK government to support a gas “compromise” ahead of the COP26 UN conference, Channel 4 News can reveal.

Last year, representatives from ExxonMobil, Shell, Chevron, Equinor and BP met with the then UK trade minister for a private dinner in Texas where natural gas was championed as a “vital part of the solution” to tackling climate change, according to a freedom of information request obtained by Greenpeace UK’s investigations unit Unearthed and shared exclusively with this programme. read more

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Renewable Energy Soars As Exxon, Shell Falter

FORBES

Renewable Energy Soars As Exxon, Shell Falter

Miriam TuerkInvesting

As many know, Big Oil companies have suffered major losses as a result of the pandemic, as oil demand plummeted. Now, however, the prospects for the industry are looking more dismal than ever. As oil supermajors have faced increasing pressure to shift toward more sustainable business strategies, such pressure will certainly result in companies looking to renewables as the solution to this shift.

Recently, both Exxon Mobil and Royal Dutch Shell were hit with critical climate-related decisions. A Netherlands court ruled that Shell must drastically reduce its emissions this decade in what was “the first time a court ordered a private company to, in effect, change its business practice on climate grounds.” This was a seminal moment that will greatly benefit the clean technology space, leading it to become the norm, and no longer the alternative source for power in society. read more

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Supreme Court Allows San Francisco, Oakland Lawsuits Against Big Oil Companies To Proceed

CBS SF

Supreme Court Allows San Francisco, Oakland Lawsuits Against Big Oil Companies To Proceed

SAN FRANCISCO (CBS SF) – Two more ambitious lawsuits would be hard to image: in 2017 the cities of Oakland and San Francisco filed separate public nuisance lawsuits against five of the world’s biggest energy companies, seeking to hold them responsible for the local effects of sea level rise.

On Monday, the U.S. Supreme Court declined to throw the suits out of court, although the cases still face many daunting obstacles ahead. read more

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OPL 245: Groups Urge Nigeria’s Public Prosecutor To Appeal Judgement Favouring Shell, APC

OPL 245: Groups Urge Nigeria’s Public Prosecutor To Appeal Judgement Favouring Shell, APC

In a statement on Wednesday, spokesperson for the campaign groups noted that the judges have set a terrible precedent for the global fight against corruption involving fossil fuel companies.

BY SAHARAREPORTERS, NEW YORK JUN 10, 2021

Human Rights Groups, Global Witness, Human and Environmental Development Agenda, have urged the Nigerian public prosecutor to appeal the judgement of the Milan Tribunal which acquitted Eni, Shell and others for international corruption related to the acquisition of the OPL 245 oil field in Nigeria. read more

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Exxon’s defeat in a boardroom battle is a turning point for social activism.

Exxon’s defeat in a boardroom battle is a turning point for social activism.

June 10, 2021, 4:59 a.m. ET

An activist investor successfully waged a battle to install three directors on the board of Exxon Mobil last week with the goal of pushing the energy giant to reduce its carbon footprint. The investor, a hedge fund called Engine No. 1, was virtually unknown before the fight.

The tiny firm wouldn’t have had a chance were it not for an unusual twist: the support of some of Exxon’s biggest institutional investors. BlackRock, Vanguard and State Street voted against Exxon’s leadership and gave Engine No. 1 powerful support. These huge investment companies rarely side with activists on such issues. read more

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Shell’s Australia boss says Big Oil faces a push for faster change

Shell’s Australia boss says Big Oil faces a push for faster change

By Nick Toscano

The Australian boss of global energy giant Shell says society’s growing determination to speed up the shift to cleaner energy has driven a sharp escalation of climate pressure engulfing oil and gas producers this year.

In his first public comments since a Dutch court ordered Shell to set deeper and faster emissions cuts targeting a 45 per cent reduction by 2030, Shell Australia chairman Tony Nunan said he believed industry, governments and the public were becoming increasingly aligned on the need to achieve net-zero emissions by the middle of the century. read more

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Shell climate case verdict: ‘A stark warning to any corporate polluter’

euronews.green

Shell climate case verdict: ‘A stark warning to any corporate polluter’

By Johnny White

Last week a Dutch court ruled that one of the world’s biggest oil companies, Royal Dutch Shell, must reduce its greenhouse gas emissions by almost half in the next nine years.

It’s no exaggeration to say this landmark verdict, which linked the need for the fossil fuel company to decarbonise to climate science and human rights, is a watershed moment for corporate climate accountability.

The case, brought by Friends of the Earth Netherlands and over 17,000 Dutch citizens, established that Shell was in breach of its duty of care under the Dutch Civil Code, informed by its human rights responsibilities, by contributing dangerously to climate change. read more

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Forget Activism: Chronic Underperformance Is Big Oil’s Biggest Problem

OilPrice.com

Forget Activism: Chronic Underperformance Is Big Oil’s Biggest Problem

By Alex Kimani – Jun 06, 2021, 7:00 PM CDT

Just last week, some of the world’s largest integrated energy companies faced the wrath of furious investors and climate activism. Exxon Mobil (NYSE:XOM) lost three board seats to Engine No. 1, an activist hedge fund, in a stunning proxy campaign, while a good 61% of Chevron (NYSE:CVX) shareholders voted to further cut emissions at the company’s annual investor meeting a week ago.

Engine No. 1 has told the Financial Times that Exxon will need to cut fossil fuel production for the company to position itself for long-term success, “What we’re saying is, plan for a world where maybe the world doesn’t need your barrels,” Engine No.1 leader Charlie Penner has told FT.

Meanwhile, a Dutch court has ordered Royal Dutch Shell (NYSE:RDS.A) to cut its greenhouse gas emissions harder and faster than it had previously planned.

Whereas climate change issues are the presumptive reasons behind the latest wave of investor revolts at the oil and gas giants, lurking beneath the surface is a growing sense of apprehension about Big Oil’s strategy and failure to generate adequate returns for shareholders in recent decades. read more

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OPEC, Russia seen gaining more power with Shell Dutch ruling

REUTERS

OPEC, Russia seen gaining more power with Shell Dutch ruling

Dmitry Zhdannikov: June 1, 2021

Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.

Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. That’s good news for the likes of Saudi Arabia’s national oil company Saudi Aramco… read more

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Big Oil’s Very Bad Wednesday

Seeking Alpha

Big Oil’s Very Bad Wednesday

May 30, 2021 11:55 PM ETBNO, CVX, DBE… MV Financial

Summary

  • Those paying attention to the market chatter this week may have heard the phrase “Black Wednesday” pass the lips of pundits who study the fossil fuels industry, though the events didn’t result in any kind of immediate panic-selling by investors of energy shares.
  • At the annual shareholder meeting of Exxon Mobil, the company ceded at least two seats on its board of directors to a climate activist group called Engine No. 1.
  • At Chevron’s general meeting, shareholders voted on a measure to set strict emissions targets from the products it sells.
  • A Dutch court in The Hague, Netherlands, ruled that Royal Dutch Shell must reduce its carbon emissions by 45 percent by 2030 against its 2019 levels – on an absolute basis, which is stricter than the carbon intensity targets that the company prefers to use as its benchmarks. Black Tuesday 1929 turned out to be a big deal.
  • read more

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    Court orders Shell to slash CO2 emissions in landmark climate ruling

    CNN

    Court orders Shell to slash CO2 emissions in landmark climate ruling

    “This is a turning point in history,” said Roger Cox, lawyer for Friends of the Earth Netherlands.

    Updated 2000 GMT (0400 HKT) May 26, 2021

    London (CNN Business)A Dutch court has ruled that Royal Dutch Shell must dramatically reduce its carbon emissions in a landmark climate decision that could have far reaching consequences for oil companies.

    The company must slash its CO2 emissions by 45% by 2030 from 2019 levels, according to a judgment from a district court in The Hague on Wednesday. That includes emissions from its own operations and from the energy products it sells.

    This is the first time that a court has ruled a company needs to reduce its emissions in line with global climate goals, according to Friends of the Earth Netherlands, an environmental campaigning group that brought the case against Shell (RDSA).

    The verdict could pave the way for similar cases to be brought in other countries, forcing oil companies to reduce fossil fuel production. It comes just a week after the influential International Energy Agency told oil companies they need to stop drilling for oil and gas right now to prevent a climate catastrophe.

    The Anglo-Dutch company announced plans in September to become a net zero emissions company by 2050, a target that includes emissions from its products. It is currently targeting a 20% reduction in carbon intensity by 2030, and 45% by 2035.

    “This is a turning point in history,” said Roger Cox, lawyer for Friends of the Earth Netherlands.

    “This case is unique because it is the first time a judge has ordered a large polluting corporation to comply with the Paris Climate Agreement. This ruling may also have major consequences for other big polluters,” added Cox.

    The impact of the decision will be amplified because the court relied on global human rights standards and international instruments on climate change in arriving at its decision, according to legal experts.

    “I can imagine this will inspire a series of other cases against companies, especially those active in the oil extraction industries like Shell,” said Eric De Brabandere, a professor of international dispute settlement at Leiden University in the Netherlands. “It is a groundbreaking decision, it’s really a landmark.”

    Mounting pressure

    While Shell claims that its carbon intensity targets are aligned with the Paris Agreement — which aims to limit global temperature increases to 1.5 degrees Celsius — Friends of the Earth Netherlands argues that the company’s ongoing investments into oil and gas extraction show that it doesn’t take climate change seriously.

    The court found that Shell’s carbon emissions pose a “very serious threat” to Dutch residents, and that the company has an “individual responsibility” to reduce emissions. The court said the company would have “total freedom” to comply with its order and to shape corporate policy.

    Shell indicated it would appeal the ruling, which is immediately enforceable, according to De Brabandere.

    “We are investing billions of dollars in low-carbon energy, including electric vehicle charging, hydrogen, renewables and biofuels. We want to grow demand for these products and scale up our new energy businesses even more quickly. We will continue to focus on these efforts and fully expect to appeal today’s disappointing court decision,” a Shell spokesperson said in a statement.

    Oil companies are facing mounting pressure from shareholders and activists to ditch fossil fuels and invest into cleaner energy sources. The ruling handed down on Wednesday “may sound revolutionary, but, in fact, it is in line with what long term investors are increasingly asking companies to do anyway,” said Cees van Dam, a professor of international business and human rights at the Rotterdam School of Management.

    At its annual meeting on Wednesday, ExxonMobil (XOM) will face a challenge from activist investor Engine No. 1, which is seeking to replace 

    almost a third read more

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    Court orders Royal Dutch Shell to cut carbon emissions by 45% by 2030

    The Guardian

    Court orders Royal Dutch Shell to cut carbon emissions by 45% by 2030

    Daniel Boffey: Wed 26 May 2021 15.25 BST

    A court in the Hague has ordered Royal Dutch Shell to cut its global carbon emissions by 45% by the end of 2030 compared to 2019 levels, in a landmark case brought by Friends of the Earth and over 17,000 co-plaintiffs.

    The oil giant’s sustainability policy was found to be insufficiently “concrete” by the Dutch court in an unprecedented ruling that will have wide implications for the industry. read more

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    Shell faces Dutch court ruling on global emissions

    EnergyVoice.com

    Shell faces Dutch court ruling on global emissions

    By Ed Reed: 24 May 2021

    A court in The Hague will rule on May 26 on a climate case against Shell, led by Friends of the Earth Netherlands (Milieudefensie).

    The environmentalist case demands that Shell cut CO2 emissions by 45% by 2030. Success for the NGO would see the corporation ordered to “reduce its emissions in line with global climate goals”.

    The outcome, it said, should “impact climate policy and corporate accountability globally”. It does not seek compensation, rather a change to Shell’s business plan. read more

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    Vote against Shell’s energy transition strategy, Pirc urges investors

    Vote against Shell’s energy transition strategy, Pirc urges investors

    : Tuesday 11 May 2021

    Shareholder advisory PIRC has recommended investors vote against Shell’s non-binding resolution on its energy transition strategy at its annual meeting next week.

    The Pensions & Investment Research Consultants (PIRC), a major proxy advisory, said Royal Dutch Shell’s strategy to cut emissions “does not seem to have a clear plan for the competitive aspects of the energy transition.” read more

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    New York City sues Exxon, BP, Shell in state court over climate change

    New York City sues Exxon, BP, Shell in state court over climate change

    By Reuters Staff: April 22, 2021

    (Reuters) – New York City is suing three major oil companies and the top industry trade group in state court after a federal appeals court this month rejected its effort to hold the companies liable to help pay the costs of harm caused by global warming.

    The lawsuit filed on Thursday said Exxon Mobil Corp, BP Plc, Royal Dutch Shell and industry group the American Petroleum Institute “have systematically and intentionally misled consumers” about “the central role their products play in causing the climate crisis.” read more

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    A great deception’: oil giants taken to task over ‘greenwash’ ads

    Damian Carrington Environment editor: Mon 19 Apr 2021 06.01 BST

    Some of the world’s biggest fossil fuel companies have used advertising to “greenwash” their ongoing contribution to the climate crisis, according to files published by the environmental lawyers ClientEarth. They describe the practice as “a great deception”.

    The files compare the adverts produced by ExxonMobil, Aramco, Chevron, Shell, Equinor and others with the companies’ operations and products, overall climate impact and progress toward climate-safe business models. read more

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