{"id":18900,"date":"2022-03-16T08:14:16","date_gmt":"2022-03-16T15:14:16","guid":{"rendered":"https:\/\/marketdepth.com\/?p=18900"},"modified":"2022-03-16T08:14:17","modified_gmt":"2022-03-16T15:14:17","slug":"shells-board-of-directors-is-being-sued","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/shells-board-of-directors-is-being-sued\/","title":{"rendered":"Shell’s Board of Directors is Being Sued"},"content":{"rendered":"\n

Shell\u2019s (NYSE: SHEL)<\/strong> board of directors is being sued, as it has not adequately prepared the company for the transition away from fossil fuels.<\/p>\n\n\n\n

Activists Filing Suit<\/h5>\n\n\n\n

The lawsuit was brought by activist shareholders, ClientEarth, as it claims that Shell\u2019s 13 directors are liable for the lack of action in line with the Paris agreement. The agreement strives to reduce global heating to below 2C by cutting down on fossil fuel emissions.<\/p>\n\n\n\n

First Case of Lawsuit<\/h5>\n\n\n\n

This is thought to be the first case of its kind as it tries to hold a company\u2019s board responsible \u201cfor failing to properly prepare for the net zero transition.\u201d<\/p>\n\n\n\n

\u201cShell is seriously exposed to the physical and transitional risks of climate change, yet its climate plan is fundamentally flawed.\u201d<\/p>Paul Benson, a ClientEarth lawyer<\/cite><\/blockquote>\n\n\n\n

\u201cThe longer the Board delays, the more likely it is that the company will have to execute an abrupt \u2018handbrake turn\u2019 to retain commercial competitiveness and meet the challenges of inevitable regulatory developments,\u201d Benson said.<\/p>\n\n\n\n

ClientEarth, a non profit group, has a history of winning climate-related cases and stated that it has notified Shell and hopes to hear a response before formally filing papers in the high court of England and Wales. Nevertheless, if successful, Shell\u2019s board may be required to modify its strategy and take specific steps to align its plan with the Paris deal.<\/p>\n","protected":false},"excerpt":{"rendered":"Shell\u2019s (NYSE: SHEL) board of directors is being sued, as it has not adequately prepared the company for the transition away from fossil fuels. Activists Filing Suit The lawsuit was brought by activist shareholders, ClientEarth, as it claims that Shell\u2019s 13 directors are liable for the lack of action in line with the Paris agreement…. View Article<\/a>","protected":false},"author":3,"featured_media":18901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,17,11,13,16],"tags":[],"acf":[],"yoast_head":"\nShell's Board of Directors is Being Sued - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/shells-board-of-directors-is-being-sued\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shell's Board of Directors is Being Sued - MarketDepth\" \/>\n<meta property=\"og:description\" content=\"Shell\u2019s (NYSE: SHEL) board of directors is being sued, as it has not adequately prepared the company for the transition away from fossil fuels. 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