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    RDSA   GB00B03MLX29

ROYAL DUTCH SHELL PLC

(RDSA)
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Shell Shareholders Back Energy Transition Strategy at AGM

05/18/2021 | 09:17am EDT

By Jaime Llinares Taboada

Royal Dutch Shell PLC shareholders on Tuesday backed the company's energy transition strategy at the annual general meeting.

An advisory vote on Shell's energy transition strategy received 88.74% of support at the meeting, the Anglo-Dutch energy major said.

Meanwhile, a shareholder proposal urging Shell to set and publish targets consistent with the goals of the Paris Climate Agreement, and to report on the strategy, policies and progress made at least on an annual basis, was rejected with only 30.47% of votes in favour. The company had said this resolution was redundant and had advised shareholders to vote against it.

"This shareholder vote on our Energy Transition Strategy is a first for an energy company and we are pleased shareholders demonstrated their strong endorsement with more than 88% of votes cast in favour of our strategy," Chief Executive Ben van Beurden said.

Shell has a target to become a net-zero company by 2050. The company has said that its oil production will gradually decline after peaking in 2019, but it intends to continue expanding its liquefied natural gas capacity.

The International Energy Agency said Tuesday that investments in fossil fuels should stop from today if the world is to achieve net-zero emissions by 2050.

Shell's transition strategy also includes increasing sales of chemicals, lubricants, low-carbon fuels, electricity and hydrogen, and investing in nature-based solutions to offset emissions.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

05-18-21 0916ET

Stocks mentioned in the article
ChangeLast1st jan.
ROYAL DUTCH SHELL PLC 0.76% 16.796 Real-time Quote.14.93%
WTI 0.13% 73.102 Delayed Quote.48.21%
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Financials (USD)
Sales 2021 277 B - -
Net income 2021 17 518 M - -
Net Debt 2021 62 518 M - -
P/E ratio 2021 9,28x
Yield 2021 3,58%
Capitalization 152 B 152 B -
EV / Sales 2021 0,77x
EV / Sales 2022 0,68x
Nbr of Employees 87 000
Free-Float 99,8%
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Technical analysis trends ROYAL DUTCH SHELL PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 25,38 $
Last Close Price 20,00 $
Spread / Highest target 66,0%
Spread / Average Target 26,9%
Spread / Lowest Target -16,0%
EPS Revisions
Managers and Directors
NameTitle
Bernardus Cornelis Adriana Margriet van Beurden Chief Executive Officer & Executive Director
Jessica Rodgers Uhl Chief Financial Officer & Director
Andrew Stewart Mackenzie Chairman
Harry Brekelmans Director-Technology & Projects
Gerrit Zalm Independent Non-Executive Director
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