Shell must comply with the ruling immediately
A court in the Hague ordered Shell (LON:RDSB) to reduce its worldwide carbon emissions by 45% by the end of 2030.
The landmark ruling aimed at bringing the FTSE 100 company in line with the Paris Agreement, is the first of its kind in history.
“The court orders Royal Dutch Shell … to reduce its CO2 output and those of its suppliers and buyers by the end of 2030 by a net of 45% based on 2019 levels,” the court said. “Royal Dutch Shell has to implement this decision at once.”
Shell, the ninth biggest polluter in the world from 1988-2015, will have the right to appeal the judgement.
Donald Pols, director of Friends of the Earth Netherlands (FOE NL), the group that organised the case, described the ruling as a “monumental victory”.
“The judge has left no room for doubt: Shell is causing dangerous climate change and must stop its destructive behaviour now,” Pols said in a statement.
Shell said that it was disappointed and would appeal the decision, although it must comply with the ruling immediately.
The Shell share price has been moving sideways for the past two months now and appears unsure of its next move.
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