Shell publishes first review of lobbying practices
Shell this morning published its first-ever review of the company’s lobbying practices.
Stephanie Pfeifer, a member of the Climate Action 100+ global steering committee and CEO, Institutional Investors Group on Climate Change, explains: “Shell’s commitment to address misalignment on climate policy lobbying, walking away from industry groups when needed, is a key step forward. Following pressure from investors, other companies, including Glencore and Heidelberg Cement, are also publishing reviews of their lobbying practices. This needs to become standard practice and where negative climate lobbying continues, investors will expect companies to take action.”
The report is one of a number of commitments made in an joint statement between the company and Climate Action 100+ investors agreed in December 2018 (see here and here).
Shell’s commitments are made in line with investor expectations on corporate lobbying on climate change, developed in consultation with the Institutional Investors Group on Climate Change.
See here for Shell’s announcement and here for a copy of the report. A response to the announcement from the Church of England Pension Board can also be found here.