Tuesday, March 15, 2022

Shell's directors face legal action from climate group shareholder

CNN reports:
Environmental lawyers ClientEarth said on Tuesday they were preparing legal action against the directors of Shell over the company’s climate transition plan, in what they said would be the first such case of its kind.
There's more:
The lawyers from ClientEarth — which is a Shell shareholder — said they are seeking to hold the oil and gas company’s 13 directors personally liable for what they consider to be a failure to adequately prepare for the global shift to a low-carbon economy. They say that the board has failed to adopt and implement a climate strategy that aligns with the 2015 Paris Agreement, claiming that amounts to an alleged breach of the directors’ duties under the UK Companies Act.
The climate religious movement takes their movement to court.