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Investors challenged Shell PLC over its plans for the potential long-term decline in fossil fuel demand.
Support for climate-related shareholder resolutions at Shell fell to 12.7%, down from 20.6% in 2025.
KEY POINTS
- Shell's board opposed publishing a new strategy for structural fossil fuel demand decline, citing existing disclosures.
- Major proxy advisors ISS and Glass Lewis recommended shareholders vote against the climate disclosure proposal.
- Shell maintains it will cut emissions to net zero by 2050, despite weakening nearer-term climate targets.
- Shell attributed first-quarter profits largely to oil price surges from the Iran war's impact on supply.
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