Climate change is getting worse. The Intergovermental Panel on Climate Change has pointed to severe risks to human welfare from global warming of over 1.5%. More recent reports suggest this is likely to be an understatement. Policymakers now routinely speak about a climate ‘crisis, ‘emergency’ and ‘catastrophe’.
After a long engagement with Royal Dutch Shell, we wrote an open letter to the Chair in explaining our decision to sell our shares in the business for our clients following our Climate Active strategy. We also urged the Directors to rethink their capital deployment plans in order to demonstrably align with the goals of the Paris Agreement.
The letter was initially endorsed by the following clients: The University of Leeds; St Hugh's College, Oxford; Earthwatch Europe; The Actors' Children's Trust; The Congregation of the Passion of Jesus Christ; The Frank Jackson Foundation; The Royal College of Radiologists; Barrow Cadbury Trust; The Cameron Fund; Hackney Parochial Charities; Milton Keynes Parks Trust Limited; The Sisters of the Sacred Hearts of Jesus and Mary; and West Hackney Parochial Charity.
Since we sent it, the letter has been additionally endorsed by BMA Charities and The Congregation of Jesus.