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Shell’s board of directors are being personally sued over their alleged failure to properly manage risks associated with the climate crisis.
The lawsuit says the British oil giant’s 11 directors have breached their legal duties under the UK’s Companies Act by failing to bring their climate strategy in line with the Paris Agreement.
Environmental law charity ClientEarth, which filed the lawsuit, says it is the first case in the world that looks to hold corporate directors personally responsible for failing to prepare for the energy transition.
“Shell may be making record profits now due to the turmoil of the global energy market, but the writing is on the wall for fossil fuels long term,” says Paul Benson, a senior lawyer at ClientEarth.
“The shift to a low-carbon economy is not just inevitable, it’s already happening.”
Source:
www.euronews.com
The lawsuit says the British oil giant’s 11 directors have breached their legal duties under the UK’s Companies Act by failing to bring their climate strategy in line with the Paris Agreement.
Environmental law charity ClientEarth, which filed the lawsuit, says it is the first case in the world that looks to hold corporate directors personally responsible for failing to prepare for the energy transition.
“Shell may be making record profits now due to the turmoil of the global energy market, but the writing is on the wall for fossil fuels long term,” says Paul Benson, a senior lawyer at ClientEarth.
“The shift to a low-carbon economy is not just inevitable, it’s already happening.”
Source:
Shell’s board of directors personally sued in world first climate case
The claim filed by environmental law charity ClientEarth has the backing of investors who hold 12 million shares in the company.
www.euronews.com
