Shell to link executive pay more closely to group’s climate performance
LONDON (Reuters) – Royal Dutch Shell has proposed linking its directors’ pay more closely to the group’s climate performance and severing the link between bonuses and liquefied natural gas (LNG) production volumes, it said on Monday.
The weighting of Shell’s energy transition performance on its targeted path to net zero emissions by 2050 would double to 20% of the directors’ long-term incentive plan calculation if shareholders vote for the plan at a meeting on May 18.
Anglo-Dutch oil giant Royal Dutch Shell’s plan to reach net zero emissions by 2050, unveiled last month, focuses heavily on selling low-carbon electricity, biofuels and hydrogen directly to households and electric vehicle owners.
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