Archived press release

Shell agm told: "stop wrecking the climate"

14 May 1997

Campaigners from Friends of the Earth International (FoEI) will attend Shell's Annual General Meeting today (Wednesday, 14 May) to ask the company to pull out of the Global Climate Coalition (GCC) - a powerful fossil fuel lobby group attempting to block international agreements on tackling climate change [1].

The Global Climate Coalition consists of a number of high profile fossil fuel companies - including Texaco, Esso, Vauxhall and Ford - which works to protect the interests of its members by trying to block international action on climate change. Friends of the Earth International has written to member companies urging them to withdraw from the GCC and support a proposal from the Association of Small Island States (AOSIS) for a 20% cut in carbon dioxide emissions by 2005.

Last week Shell published an environmental report [2] claiming to support the principle of sustainable development and "prudent precautionary measures" on climate change. Membership of the GCC is a direct contradiction of this position.

Later this year world governments will meet at the Kyoto Climate Summit to set targets for cutting greenhouse gas emissions. Scientists now agree that urgent reductions are needed to avoid the serious ecological and economic impacts of climate change.

Anna Stanford of Friends of the Earth International said:
"The claim by the GCC that we need to wait for more research is a red herring.World scientists agree that humankind is causing the global climate to change, with serious consequences for life on earth. Action to cut greenhouse gases, such as developing renewable energy, can have significant employment and

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economic benefits. Shell should grasp the opportunity to be part of the growing sustainable energy industry. We urge Shell to leave the GCC and support tough

action on climate change. This will be a true test of its commitment to sustainable development."


Friends of the Earth International is also supporting a resolution being tabled at the AGM by Pensions Investment Research Consultants (PIRC), calling for Shell to set itself stringent environmental and ethical standards, and for these to be applied consistently worldwide, including countries like Nigeria. Shell is recommending that shareholders vote against the resolution.

FoEI recently attended the AGM's of two insurance companies - General Accident and Prudential- to urge them to disinvest from Shell. FoEI campaigners pointed out that the companies' long-term profitability may be threatened by weather-related insurance claims such as subsidence and winter storms. Therefore, investing in climate-wrecking companies like Shell was commercially unwise.

ENDS

[1] A detailed briefing on the Global Climate Coalition is available from the FOE press office.

[2]Shell produced its report on Health, Safety and the Environment on 6 May 1997.

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Published by Friends of the Earth Trust