As we’ve recently shared here on Saving The West, there have been some grave climate change reports released lately, none of which have been favorable for the environment. Among the reports was the UN’s Intergovernmental Panel on Climate Change (IPCC) report, released in October, and the federally mandated climate change report, released by the U.S. on Black Friday. Headlining reports like these are often warnings about the risk of the planet because of global emissions, like carbon emissions. However, Shell, one of the world’s largest oil companies, announced emission targets this week, which links executive pay to those emission caps.
The announcement comes as COP24, a UN climate conference, kicked off in Poland. As CNBC reports, Shell is the first oil company to link carbon targets with executive remuneration. According to CNBC:
In a joint statement on Monday with a leadership group of institutional investors on behalf of Climate Action 100+, the Anglo-Dutch business said it aimed to cut its net carbon footprint by around 50 percent by 2050. As an “interim step,” the firm said it would aim to reduce its net carbon footprint by around 20 percent by 2035.
It will also set specific net carbon footprint goals for short term periods of three or five years. Targets will be set every year.
The business added that it would, as part of a revised remuneration policy, “incorporate a link between energy transition and long-term remuneration.” This will be subject to a shareholder vote at its 2020 Annual General Meeting.
Read the full article on CNBC.
Meanwhile, read more of the latest environmental news below.
- Here’s a Way to Fight Climate Change: Empower Women (WIRED)
- Palm oil is unavoidable. Can it be sustainable? (National Geographic)
- Why Environmentalists and Hunters are United in Saying the Endangered Species Act Is Failing and Needs to Be Fixed (Newsweek)
- In the Blink of an Eye, a Hunt for Oil Threatens Pristine Alaska (New York Times)