Investor proxy advisory Glass Lewis recommended Shell (SHEL.L) shareholders vote against a resolution filed by a group of 27 investors urging the energy company to set tighter climate targets.
The resolution urges Shell to align its medium-term carbon emissions reduction targets with the Paris Climate Agreement, including emissions from fuels burnt by consumers, known as Scope 3 emissions.
Glass Lewis said that given Shell's "greenhouse gas emission reduction goals and disclosure on the steps it is taking to mitigate its carbon emissions, as well as insufficient evidence that would lead us to believe it is significantly lagging its peers, we do not believe that adoption of this proposal would benefit the Company or its shareholders at this time."
Shell's board urged investors to vote against the resolution.
A similar resolution last year won 19.3% investor support.
