Category: Banks

The Church of England Pension Board (CEPB) announced yesterday that it is “likely” to give its seal of approval to Shell’s new climate plan at its annual meeting next month, despite campaign groups including the Australian Centre for Corporate Responsibility and ShareAction urging the faith investor to reject it for its lack of ambition.

CEPB leads Climate Action 100+’s engagement on Shell in partnership with Dutch investment manager Robeco, but - notably - the statement of support came from CEPB alone. Previously, the pair have issued joint statements on the topic. A spokesperson for Robeco told RI that it does not disclose voting positions ahead of company meetings. 

Adam Matthews, Chief Responsible Investment Officer at CEPB, said in the release yesterday that the fund was likely to support the new plan given the “progress that Shell has made as a result of engagement” – although that support was “contingent” on shareholders being allo…