Shell Directors Sued Due to Flawed Climate Strategy
With the repercussions of the 2015 Dieselgate scandal still hounding carmakers and drivers, authorities are constantly watching out for companies or brands that they can add to the lengthy list of diesel emissions violators. Just recently, oil giant Shell was thrust into the spotlight after an environmental law charity alleged that the company’s directors breached the Companies Act regarding the Paris Agreement for climate strategy.
Shell’s climate transition strategy is described as flawed as it puts the company at risk. While the rest of the world transitions to clean energy, the oil giant still has fossil fuel projects. This not only puts Shell’s future in danger but it would be a waste of money for their investors as well.
Despite enjoying significant profits (totalling billions), Shell is walking on a thin line because of the continuous increase of climate and emissions-related litigation cases throughout the world. This has resulted in several regulatory and legal issues, including an order from a Dutch court to reduce gas and oil emissions by at least 45% before or by the year 2030. There is also an allegation that Shell lied about its green energy investment.
As such, even if the oil giant is collecting …
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