11th Sep 2015 10:54
LONDON (Alliance News) - Royal Dutch Shell has left an influential climate-change lobbying group sponsored by the Prince of Wales amid concern about the company?s attitude to environmental issues, the Financial Times reported Friday.
The oil major has left the Prince of Wales Corporate Leaders Group, which includes Lloyds Banking Group, Tesco and Unilever, and which has played an important role in lobbying for legislation such as the climate change act. That act commits the UK to reducing its carbon emissions by at least 80% from what they were in 1990 by 2050.
The Corporate Leaders Group released news that Shell had left, but did not state a reason for the FTSE 100-listed company's departure, but people close to the group told the Financial Times that the oil major?s corporate policies, which include the controversial programme to drill for oil in the Arctic, made its membership of the group increasingly difficult.
http://www.ft.com/cms/s/0/d63ea0c0-57dc-11e5-9846-de406ccb37f2.html#axzz3lQRVoy9h
In August, the US government gave Shell the green light to begin exploratory oil drilling in the Arctic Ocean off Alaska. Shell plans to drill up to six offshore wells in relatively shallow water in the Chukchi Sea 112 kilometres north-west of the village of Wainwright, Alaska.
The plans have been decried by environmentalists, but the US government said that it was carefully monitoring the environmental impact and that Shell would be held to high standards.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
TescoLloydsRDSA.LRDSB.LUnilever