In light of the rising urgency of the climate crisis, Sarasin and Partners will be supporting shareholder resolutions requiring a Paris-alignment commitment at upcoming Annual General Meetings for both Royal Dutch Shell and Total SA. Critically, if passed, these commitments would go into each company’s Articles of Association, ensuring directors have an obligation to act. In recent weeks, both companies have published welcome ambitions to become net-zero businesses by 2050. On closer inspection, however, neither has set out how they will shift capital away from expanding fossil fuel production to the extent required by their ambitions. Until this happens, they will remain empty promises. Shareholders and the public deserve better.
