This is interesting. RDS.A has been ordered by a Dutch Court (home country) to cut emissions by 45% by 2030 – just 8.5 years from now. Shell in February set out plans to gradually reduce its oil output and expand in areas including electricity and biofuels . Other big oil companies have also pledged to reduce their dependence on fossil fuels and invest more in low-carbon energy amid growing pressure from activists, investors and governments but the Dutch court has ruled that those plans don't go far enough and Shell is under their jurisdiction . Most European Oil Companies plan to reduce emissions by 2% annually, this is a court-ordered 5% and the Dutch Court is very likely to set the tone for similar action in the EU. US companies, by contrast, have done nothing at all to curb climate emissions but that may change when the Biden Administration finally has time to focus on that catastrophe (one catastrophe at a time so far). The district court in The Hague, ruling in a case brought by environmental organizations, said its decision was based on broadly accepted United Nations guidance aimed at limiting global warming and human-rights-related law that is similar across Europe. The ruling could set a precedent , at least in Europe, that individual companies bear a legal responsibility to protect people from climate change. IN PROGRESS
This is interesting.
RDS.A has been ordered by a Dutch Court (home country) to cut emissions by 45% by 2030 – just 8.5 years from now. Shell in February set out plans to gradually reduce its oil output and expand in areas including electricity and biofuels. Other big oil companies have also pledged to reduce their dependence on fossil fuels and invest more in low-carbon energy amid growing pressure from activists, investors and governments but the Dutch court has ruled that those plans don't go far enough and Shell is under their jurisdiction.
Most European Oil Companies plan to reduce emissions by 2% annually, this is a court-ordered 5% and the Dutch Court is very likely to set the tone for similar action in the EU. US companies, by contrast, have done nothing at all to curb climate emissions but that may change when the Biden Administration finally has time to focus on that catastrophe (one catastrophe at a time so far).
The district court in The Hague, ruling in a case brought by environmental organizations, said its decision was based on broadly accepted United Nations guidance aimed at limiting global warming and human-rights-related law that is similar across Europe. The ruling could set a precedent, at least in Europe, that individual companies bear a legal responsibility to protect people from climate change.
IN PROGRESS