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Institutional investors back Shell board lawsuit over climate risk

REUTERS

Institutional investors back Shell board lawsuit over climate risk

By :

LONDON, Feb 9 (Reuters) – A group of European institutional investors is backing a novel London lawsuit against energy giant Shell’s (SHEL.L) board over alleged climate mismanagement in a case that could have far-reaching implications for how companies tackle emissions.

ClientEarth, an environmental law charity turned activist Shell investor, said it had filed a High Court claim on Wednesday, alleging Shell’s 11 directors have failed to manage the “material and foreseeable” risks posed to the company by climate change – and that they are breaking company law. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell threatens Greenpeace protestors with jail and fines: But legal tactics fail as Greenpeace sends second boat and more climbers

Shell threatens Greenpeace protestors with jail and fines: But legal tactics fail as Greenpeace sends second boat and more climbers

Greenpeace International: 6 February 2023

Action pics and video available here, with updates throughout the day. 

Amsterdam, Netherlands – Shell has attempted to silence Greenpeace International’s peaceful occupation of its oil and gas platform at sea, by hitting the campaign group with an injunction late on Friday, February 3, threatening up to two years’ jail time and fines.[1]

But today, Shell’s heavy-handed legal tactics failed, as Greenpeace International successfully went ahead with plans to escalate its protest by adding two more climbers to occupy the company’s oil and gas platform – using other boats unaffected by the court order.

Protestors are demanding that the company stops expanding oil and gas production around the world, takes responsibility for fuelling the climate crisis, and pays up for the climate destruction it is causing everywhere.

At around 9am (CET) in the Channel, the Greenpeace France-chartered Merida trimaran and two small boats approached the White Marlin heavy-lift vessel, which is carrying Shell’s 34,000 tonne oil and gas platform to the North Sea. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Nigeria: Shell must clean up devastating oil spills in the Niger Delta

AMNESTY INTERNATIONAL

Nigeria: Shell must clean up devastating oil spills in the Niger Delta

Reacting to the news that two Nigerian communities, which have been devastated by oil spills, have filed claims against Shell at the High Court in London, Amnesty International’s Head of Business and Human Rights Mark Dummett, said:

“More than 13,500 residents from the Ogale and Bille communities in the Niger Delta have now filed claims against Shell asking that the company clean up oil spills which they say have wrecked their livelihoods, poisoned their wells, and polluted their land and water, which means they can no longer farm or fish.”

“Amnesty stands by these two communities in the Niger Delta, which have been engaged in litigation against Shell for seven years, asking that the company clean up the damage caused and compensate them for their lost livelihoods.

“Shell announced in 2021 that it plans to sell its onshore oilfields and assets in the Niger Delta after 60 years of highly profitable operations in the area. It is concerning that Shell has not explained how it plans to address the widespread and systemic pollution of Nigerian communities linked to its operations over many years before it sells up and leaves. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Climate activists across world raise funds for the court case against Shell

Climate activists across world raise funds for the court case against Shell

Friends of the Earth Netherlands: 20/01/2023 | 16:25 PM

In 2021, thousands of Dutch citizens took one of the largest carbon emitters in the world to court and won. Together with Friends of the Earth Netherlands (Milieudefensie) they won a historic court case against Royal Dutch Shell, the parent company of Shell Group, forcing the company to take climate action.

The judge ruled that Shell’s current climate policy would contribute to a level of climate change that would be so dangerous that it would impose a threat to human rights. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

theguardian.com/uk

Shell to spend $450m on carbon offsetting as fears grow that credits may be worthless

The fossil fuel firm Shell has set aside more than $450m (£367m) to invest in carbon offsetting projects, and plans to spend the equivalent of half the current market for nature offsets every year, the Guardian can reveal.

But a joint investigation by the Guardian, Die Zeit and Source Material into Verra, the world’s leading carbon standard for the rapidly growing $2bn voluntary offsets market, has found, based on analysis of a significant percentage of the projects, that more than 90% of their rainforest offset credits – among the most commonly used by companies – are likely to be “phantom credits” and do not represent genuine carbon reductions. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell to pay 15 mln euros in settlement over Nigerian oil spills

REUTERS

Shell to pay 15 mln euros in settlement over Nigerian oil spills

AMSTERDAM, Dec 23 (Reuters) – Shell (SHEL.L) will pay 15 million euros ($15.9 million) to communities in Nigeria that were affected by multiple oil pipeline leaks in the Niger Delta, the oil company on Friday said in a joint statement with the Dutch division of Friends of the Earth.

The compensation is the result of a Dutch court case brought by Friends of the Earth, in which Shell’s Nigerian subsidiary last year was found to be responsible for the oil spills and was ordered to pay for damages to farmers. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shater v. Shell Oil Co. A spectacular falling out of corporate spies

Shater v. Shell Oil Co. A spectacular falling out of corporate spies

By John Donovan: 3 Dec 2022

Shater v. Shell Oil Co

USDC No. 4:20-CV-1465

The above US court case involves many members of Shell Corporate Securities, including the head of Shell Global Security James WD Hall.

Links to the latest court decisions filed on 28 November 2022.

Shater Judgement 28 Nov 2022

(November 28, 2022 MEMORANDUM TO COUNSEL OR PARTIES LISTED BELOW Regarding: Fifth Circuit Statement on Petitions for Rehearing or Rehearing En Banc No. 22-20289 Shater v. Shell Oil Co USDC No. 4:20-CV-1465) read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell handed £90m by taxpayers to cut energy bills under price guarantee

The Telegraph

Shell handed £90m by taxpayers to cut energy bills under price guarantee

The payments are one part of a major Government package to shield households

Shell has been handed £90m of taxpayer cash under the Government’s scheme to help families with surging energy bills.

The oil and gas giant’s UK household supply division received £90,141,141 from the Government in October, according to official figures.

All suppliers are being sent cash by the Government each month so they can shave £400 off customers’ bills in instalments between now and March. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Another departing Shell leader seeking redemption?

Another departing Shell leader seeking redemption?

By John Donovan

Departing Shell Plc CEO Ben van Beurden seems to be seeking redemption in his closing period with the energy giant.

THE GRONINGEN SCANDAL

BvB now admits that Shell should have pulled out of the controversial earthquake-blighted Groningen project operated by NAM – a Shell-Exxon joint venture company.

According to Reuters: “A damning report in 2015 from the independent Dutch Safety Board had accused the government and the field’s operators of ignoring the threat of earthquakes linked to the field for years.” 

As regular visitors to this website know, we have been drawing attention to the Groningen scandal for many years. Thousands of properties have been damaged. As a consequence, Dutch prosecutors are pursuing litigation against NAM. Tens of thousands of Groningen residents are eligible for compensation for earthquake damage. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Criticism intensifies after big oil admits ‘gaslighting’ public over green aims

The Guardian

Criticism intensifies after big oil admits ‘gaslighting’ public over green aims

Fury as ‘explosive’ files reveal largest oil companies contradicted public statements and wished bedbugs upon critical activists

Oliver Milman: Sat 17 Sep 2022 11.00 BST

Criticism in the US of the oil industry’s obfuscation over the climate crisis is intensifying after internal documents showed companies attempted to distance themselves from agreed climate goals, admitted “gaslighting” the public over purported efforts to go green, and even wished critical activists be infested by bedbugs.

The communications were unveiled as part of a congressional hearing held in Washington DC, where an investigation into the role of fossil fuels in driving the climate crisis produced documents obtained from the oil giants ExxonMobil, Chevron, Shell and BP.

“First they ignore you, then they laugh at you, then they wish bedbugs on you, then you win,” said Varshini Prakash, executive director of Sunrise. The organization accused Shell of a “legacy of violence and of ignoring the wellbeing of communities across the globe”. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

South African court bans offshore oil and gas exploration by Shell

The Guardian

South African court bans offshore oil and gas exploration by Shell

Judgment is huge victory for campaigners concerned about effect of seismic waves on marine life

A South African court has upheld a ban imposed on the energy giant Shell from using seismic waves to explore for oil and gas off the Indian Ocean coast.

The judgment delivered in Makhanda on Thursday marks a monumental victory for environmentalists concerned about the impact the exploration would have on whales and other marine life.

The 2014 decision granting the right for the “exploration of oil and gas in the Transkei and Algoa exploration areas is reviewed and set aside”, the high court ruled in the southern city. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Church of England pension boss’s shares in Shell ‘shocking’, say campaigners

The Guardian

Church of England pension boss’s shares in Shell ‘shocking’, say campaigners

Exclusive: Christian climate groups urge Clive Mather to resign and C of E to divest from fossil fuel

Damian Carrington Environment editor: Wed 17 Aug 2022 10.00 EDT

The chair of the Church of England Pensions Board, which has not divested its £3.5bn fund from fossil fuels, is a shareholder in Shell, the Guardian can reveal.

Clive Mather had a 38-year career at the oil company during which he oversaw a multibillion-dollar tar sands project in Canada. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Prelude is simultaneously a stellar engineering achievement and a financial black hole

The Biggest of the Biggest: Prelude FLNG, the Largest Floating Edifice of All Time

A project of oil and gas giant Shell, the Prelude is simultaneously a stellar engineering achievement and a financial black hole.

13 Aug 2022, 16:11 UTC: by Razvan Calin

Over 530 yards long, 80 yards wide, more than 300 feet tall, and 660,000 tones heavy. The largest floating structure the world has ever put out to see is the Prelude offshore natural gas facility. Completed in under five years, the colossal ship-looking titan is made to work a quarter of a century in rough South Pacific waters. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

The Sun

PURE GREED: How fatcat energy bosses will bank a staggering £15 MILLION as terrified hard-up Brits choose heating or eating

IT is High Noon for the energy fatcats today as they drag their expensively-dressed behinds into showdown talks with the Chancellor.

As The Sun revealed yesterday, Nadhim Zahawi has summoned gas and electricity bosses in to explain just how much cash they are making out of the energy crisis.

It comes as energy experts at Auxilione revealed energy bills could reach over £5,000 next year and Martin Lewis warned the crisis could put lives at risk.

Zahawi and Business Secretary Kwasi Kwarteng wil also demand to know what investment they plan to make with their soaring profits. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

£7.5bn taxpayer handout for oil titans Shell and BP

This is MONEY.co.uk

Shell and BP to share in huge giveaway that will blow hole in gains from windfall tax: £7.5bn taxpayer handout for oil titans

  • Energy giants already receive Treasury incentives to invest in the North Sea 

  • Fresh changes have been ushered in that will turbocharge the subsidies 

  • Plans introduced at same time as Government’s £5bn ‘windfall tax’ 

  • City sources describe exceptionally high incentives as ‘beyond believable’ 

Oil and gas titans are set to reap a mammoth taxpayer giveaway of up to £7.5billion despite making record profits.

BP and Shell are among the firms that will benefit from new tax breaks, despite BP boss Bernard Looney comparing his firm to a ‘cash machine’.

Energy giants already receive Treasury incentives to invest in the North Sea, but fresh changes have been ushered in that will turbocharge the subsidies. The plans have been introduced at the same time as the Government’s £5billion ‘windfall tax’ – billed as taxing energy firms to help pay for the cost-of-living crisis. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.

Shell staff get profits bonus as energy bills soar

BBC NEWS

Shell staff get profits bonus as energy bills soar

4 August 2022

Energy giant Shell is to give its workers a one-off 8% bonus after the company reported record profits from high oil and gas prices.

Most of the 82,000 staff it employs worldwide will get the pay boost but top executives will be excluded.

Shell said the award reflected its financial success and was “not a response” to the rising cost of living.

Energy firms’ bumper profits have prompted calls for tougher taxes to help families with rising bills. read more

shellplc.website and its sister non-profit websites royaldutchshellplc.com, royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are owned by John Donovan. There is also a Wikipedia feature.