West Yorkshire Pension Fund member website

Main content

WYPF welcomes Shell board support for 2015
AGM climate resolution,
which WYPF co-filed with an investor coalition

Shareholder resolution backed by LAPFF to receive Board support at 2015 AGM

London 14.00 GMT: The Local Authority Pension Fund Forum (LAPFF) today welcomed the decision by the Royal Dutch Shell Plc Board of Directors to recommend support for the ‘Aiming for A’ shareholder resolution submitted by a coalition of shareholders including the Forum, CCLA, Rathbone Greenbank Investments and the Church Investors Group.

In a letter to the investor coalition advising of its decision Shell said:

“The Board has given consideration to the Resolution and has decided to recommend that shareholders support the Resolution at the AGM.”

 “The Board further states that it continues to have a commitment to transparency and the provision of further disclosures around a number of themes mentioned in the resolution that had been flagged up in its letter to shareholders in May last year.”

The company says it will provide additional reporting for 2015 in advance of its full reporting response to the resolution in 2016 which will include sustainability reporting as well as its emissions reporting website.

Cllr Kieran Quinn, LAPFF Chair, welcomed the news saying “This is a very positive response from the Board and demonstrates that they have reached a new level of shareholder engagement on the sustainability agenda. We look forward to their more detailed assessment of the resolution ahead of the annual meeting.”