Resolution brought by activist shareholders requires oil firm to test its business model is compatible with global targets to limit global warming
Shell is set to confront the risk that climate change may pose to its future, after backing a resolution from activist shareholders. The move came on the same day it announced $15bn (£10bn) in cost cutting due to plummeting oil prices and said it wanted to resume drilling for oil in the Arctic.
The resolution, filed by 150 investors who control hundreds of billions of pounds, requires the oil major to test whether its business model is compatible with the pledge by the world’s nations to limit global warming to 2C.