Some institutional investors are unimpressed with Shell's decision to double down on oil and gas...
- Jun 16, 2023, 4:00 AM CDT
Some institutional investors are now reviewing their investments in Shell as they see the new strategy as running counter to their goals. Institutional investors in Europe are disappointed with Shell’s new strategy to continue investing in oil and gas production and selectively pour capital into renewable energy solutions, to the point of some investors considering removing it from their portfolios., effective from the second quarter 2023 interim dividend, as the UK-based supermajor pledged to grow its gas business and extend its position in the upstream.
But fund and pension managers in Europe are unhappy with Shell’s new strategy. The UK’s largest fund manager, Legal & General Investment Management , will ask Shell to detail how it plans to reach net zero by 2050 if it grows its upstream and LNG businesses.
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