Shell asks shareholders to vote on energy transition plan

Shell has asked shareholders to vote on its energy transition strategy at the company's upcoming annual general meeting on May 18, the Anglo-Dutch major said on April 15, noting this marked the first time it had put its climate policy up for a vote.

Shell unveiled a new strategy for fast-tracking its decarbonisation efforts in February, under which the company plans to scale back its oil production and refining activities while expanding in LNG, electricity and hydrogen.

"As we transform our business, it is more important than ever for shareholders to understand and support our approach," Shell CEO Ben van Beurden commented. "We are asking our shareholders to vote for an energy transition strategy that is designed to bring our energy products, our services, and our investments in line with the goal of the Paris Agreement and the global drive to combat climate change."

The shareholder vote is advisory and non-binding. Shell will update its energy transition strategy every three years until 2050, by which point it expects to have reached net-zero emissions.