The article in the url below reports this headline news from Shell:
"Energy giant Royal Dutch Shell is to set carbon emission targets and link them to its executive pay."
The headline is a little more encouraging than the reality, however. Rather than a realization within the company that they are producing and selling a product that will help kill us all, it is a decision that has been forced upon them:
"The Anglo-Dutch company has made the move after pressure from investors, led by asset manager Robeco and the Church of England Pensions Board."
Even worse, they have managed to delay implementation by several years:
"Shell will link energy transition and long-term pay, subject to a shareholder vote in 2020."
No doubt, it will take Shell a while to respond to the vote, even if it is strongly in favor of this link. And, of course, all the details still need to be worked out:
"The firm is still in talks with investors over the precise figures over carbon targets and what percentage of pay might be affected, but it is estimated that as many as 1,300 high-level employees could be involved."
In theory, anyway. So, maybe it will be implemented in 2021 or 2022 and, of course, it is long term pay, so there will need to be several years of data before the policy takes effect:
"Shell aims to set three- to five-year targets every year which will include specific net carbon footprint targets."
So, someone's pay might be affected by 2025 or something like that. Just as well time is on our side! All-in-all, a successful effort by Shell to delay the inevitable:
"Last year, shareholders criticised Shell for last year setting long-term 'ambitions' to halve its emissions of carbon dioxide by 2050, which lacked binding targets."
All of this follows the firm's decision in 2017 to tie Directors' bonuses to "emissions management" (whatever that means):
Take care
David
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Royal Dutch Shell ties executive pay to carbon reduction
December 3, 2018
BBC
