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Action at oil & gas companies’ annual general meetings

In this interview given to BBC NewsDr. Carole Nahkle, CEO of Crystol Energy, discusses the recent tensions between shareholders and oil majors.

Dr Carole Nakhle discusses the recent tensions between shareholders and oil majors in this interview with BBC News

Key takeaways:

– Shareholders’ activism is not new but in the energy industry, it is intensifying and has recently caused serious developments – some quite controversial (see for instance the latest legal clash between ExxonMobil and climate-focused shareholder groups).

– The impact of such activism on the course of a business is questionable (see Shell’s most recent annual general meeting (AGM) where shareholders overwhelmingly rejected a climate resolution filed by an activist group that called the oil major to align its medium-term carbon emissions reduction targets with the Paris Climate Agreement after the company weakened its 2030 climate related plans).

– However, research confirms that one of the beneficial outcomes of shareholders’ activism is encouraging companies to pursue greater disclosure – and thereby more transparency – with respect to their exposure to climate change risks.

– Still, while many investors support the climate cause, they are unlikely to want to see it pursued at the expense of poorer returns.

Related Analysis

Oil markets: Relative stability amid geopolitical strife“, Dr Carole Nakhle, Feb 2024

Asia’s energy market: The new global epicenter“, Dr Carole Nakhle, Dec 2023

A rising China is reshaping global energy markets“, Dr Carole Nakhle, Nov 2023

Related Comments

Is There a Geopolitical Risk Premium in the Oil Price Right Now?“, Dr Carole Nakhle, Feb 2024

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