EMEA News
Shell Faces Scrutiny from Institutional Investors Over LNG Strategy
A coalition of investors and advocacy groups has filed a shareholder resolution calling for greater transparency from oil major Shell regarding its plans to expand its LNG business.
"The resolution was filed by Brunel Pension Partnership, Greater Manchester Pension Fund and Merseyside Pension Fund, which have combined assets under management of US$86 billion," the Australasian Centre for Corporate Responsibility (ACCR) said in a statement on its website on Tuesday.
ACCR, which is a UK-based investment NGO, is also a co-filer in the resolution.
Shell aims to expand its LNG business by 20-30% by 2030, with LNG expected to represent nearly one-third of the company's upstream hydrocarbon production by end of this decade.
The investors have called for Shell to disclose how it has determined LNG demand projections and how these align with the company's climate commitments.
These disclosures must be provided by the 2026 Annual General Meeting at the latest and should include the criteria, data sources, methodologies, and assumptions used to support these claims, ACCR said.
