By Ian Walker

Shell shareholders rejected a special climate resolution requisitioned by a group of shareholders at the annual general meeting, in support of the board.

The oil major said Tuesday that the resolution--seeking for the company to align its emission targets with the Paris climate agreement--received the support of 18.62% of votes cast.

In its meeting notification dated March 13, Shell said the resolution wasn't in the best interests of the company or shareholders and advised then to vote against it.

In contrast, the resolution to approve Shell's energy transition strategy to become a net-zero emissions energy business by 2050 received 78.03% of votes cast.

"Shell's shareholders have strongly backed our strategy to deliver more value with less emissions, as we transform to become a net-zero emissions energy business by 2050," Chief Executive Wael Sawan said.

"Our focus on performance, discipline and simplification enables us to invest in providing the energy the world needs today, and in helping to build the low-carbon energy system of the future."

All other resolutions forwarded at the meeting received a high level of votes.

Write to Ian Walker at

(END) Dow Jones Newswires

05-21-24 1056ET