The environmental group ClientEarth wants to take Shell to court because the energy group is not doing enough to combat the consequences of climate change. The group is supported by seven investors from England, France, Belgium, Sweden and Denmark.
ClientEarth, a legal collective that focuses on environmental protection, believes that there is mismanagement at Shell. According to the environmental group, the company does not deal well with the risks that climate change entails. The group therefore went to the British Supreme Court on Wednesday. She holds Shell’s eleven-headed board of directors responsible.
It is striking that the initiators receive support from pension funds and other investors, such as Danske Bank from Denmark, the British pension fund London CIV and the Belgian investor Degroof Petercam. The seven investors together own less than 1 percent of Shell shares.
The British energy group, which until recently was partly Dutch, cannot agree with the indictment. The company points out that it invests a lot in sustainable energy and that the management adheres to all the rules.
Lawyers say to news agency Reuters that the case could have major consequences. If it actually comes to a lawsuit, this could encourage investors in other energy companies to also go to court.
Shell already had to deal with a setback in court two years ago. In a case brought by Milieudefensie, the court ordered the company to accelerate sustainability. Shell has appealed against that ruling. It is not yet clear when the appeal will be lodged.
