Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into reducing carbon emissions.
In a Dutch court, Shell was ordered to reduce carbon dioxide emissions by 45% from 2019 levels, and to do so by 2030 - doubling its current pace.Activist shareholders Engine No1 will hold two seats on the board of ExxonMobil after major investors including BlackRock and Vanguard voted in favor of the appointments.And Chevron shareholders approved proposals that called for cuts in scope three emissions, although targets have not been set.The trio of cases underscores growing momentum for publicly traded companies - and those running them - to be held accountable for emissions"The case...