…climate activists are disputing Shell’s claim that its goal is in line with the Paris agreement — the 2015 international pact aimed at limiting global temperature rises to well below 2C above pre-industrial levels.
“The ambitions announced by Shell are inconsistent with the Paris agreement, in particular when taking into account expected global energy demand growth,” said Mark van Baal of Follow This, the shareholder group that has submitted a resolution calling for more aggressive targets.
Activists point to forecasts from the Intergovernmental Panel on Climate Change and the International Energy Agency, which advise governments on climate change and energy policy, that an absolute reduction in carbon emissions of 60-65 per cent would be required by 2050 to fulfil the Paris agreement.
Moreover, they say that Shell’s goal for a 50 per cent reduction would be only 25 per cent in absolute terms if the group maintains its share of a global energy market that is forecast to grow by 50 per cent by 2050.
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