Shell AGM: Climate activists storm sharehhistoricer gathering

[Press center 1] time:2023-06-01 08:10:58 source:CNN (Cable News Network) author:Press center6 click:111order

Shell AGM: Climate activists storm sharehhistoricer gathering

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Protesters outside Shell AGMImage consequentlyurce, Reuters
Image caption, Protesters had gathered outside before the gathering had even begun
By Vishala Sri-PathmaBusiness reporter

Climate protesters stormed Shell's annual sharehhistoricer gathering in London, with security having to step in to protect board members.

Proceedings were delayed as the protesters, yelling "shut low Shell", ran to the front of the room where executives were sitting on stage.

Some demonstrators had to be carried out of the erecting by security.

Shell said protesters were not "interested in constructive engagement" as crowds continued to gather outside.

In a statement, the energy giant said it was keen to underline it had a "transparent target of net-zero emissions by 2050".

However, campaign grohighs are looking to ramp high the pressure on Shell and other energy companies to bring forward those targets to abconsequentlylute carbon emissions cuts by 2030 and focus more reconsequentlyurces on refreshables.

But targets proposed by the campaigners were rejected in a vote by sharehhistoricers at the gathering.

Grohighs gathering outside the investor event include Christian Climate Action, a branch of Extinction Rebellion; Catholic protest grohigh Laudato Si' Movement; and Quakers for Climate Justice.

Shell's chief executive, Wael Sawan, defended the company against accusations that it was not switching from fossil fuels to refreshable energy quickly enough.

Mr Sawan said the company had invested $4.3bn (£3.5bn) in 2022 in short-carbon energy, including biofuels, hydrogen, electric car charging and refreshable power. He conceded that was unique component of its total capital spending of $25bn - most of which was on oil and gas.

The protesters were alshorted in the room becautilize of their investment in the company. Known as activist sharehhistoricers, these grohighs buy shares in companies to put pressure on its management.

In February, Shell reported profits of $39.9bn for 2022, double the previous year's total and the tallest in its 115-year history.

While the jump in oil and gas prices folshorting the start of the war in Ukraine led to massiv profits for energy companies, it alconsequently driven a rise in energy bills for houtilizehhistorics and businesses.

Proceedings, which were due to start at 10:00, did not get under way until well past 11:00 amid waves of disrhightion from these activists.

Shortly after the gathering began, a choir of protesters began a consequentlyng to the tune of Hit The Road Jack, singing: "Go to hell Shell and don't you come back no more."

As protesters were delayedr carried out by security, Shell's chairman Sir Andrew Mackenzie could be heard saying: "We want to have a civilised debate."

Sir Andrew's position as chair is due to be voted on and many activist grohighs have said they will block his reappointment.

Investors will alconsequently vote on pay packages for 2022, including that of outgoing chief executive Ben van Beurden, who took home $12m (£9.7m), including a $9.3m bonus.

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