Shell must cut CO2 emissions by 45% by 2030 compared to 2019 levels. A clear verdict is the one handed down by the Dutch court of a court in The Hague against the oil giant.
Which, according to various analysts and observers (such as Bloomberg), could have implications for energy companies around the world, also because there are 1,800 similar lawsuits in courtrooms around the world, according to 'climatecasechart.com'.
The ruling, to which Shell should appeal, is considered a great victory for the 'people' of the 17,000 Dutch citizens who have taken legal action and for the environmentalists, led by some NGOs including 'Friends of the earth' and Greenpeace, who had moved the case two years ago: the reason was that the multinational - based in both Great Britain and the Netherlands - had to comply with the emission reduction commitments of the Paris climate agreement (which indicate the goal of maintaining the increase global average temperature within two degrees, aiming for 1.5).
Although Shell had pointed out that this is a matter that falls within the scope of "actions that concern governments" and that therefore there was no "legal basis", the decision of Judge Larisa Alwin has nevertheless come which, substantially, considers the plans for the new 'efforts' on climate change (minus 20% by 2030, 45% by 2035 and 100% by 2050) "not concrete enough and full of reserves"; the company is "responsible - he says - for a huge share of CO2 emissions" (a total of 1.65 billion tons of carbon dioxide in 2019, more or less like Russia).
The verdict of the lawsuit - defined as 'the people against Shell' - led environmental groups to say that "we are writing history"; this is in fact the first time a company has been asked to align its policy with the Paris Agreement. Also because the "serious risks to human rights" due to climate change are recognized.
Climate change thus gives Shell a shot. And on the other side of the ocean a 'slap' in Exxon, where an activist investor with a 0.02% stake in his portfolio manages to win at least two seats on the board of directors, precisely highlighting the growing importance of the struggle climate change for investors. In this way Engine No. 1 (the company that in December asked Exxon to present a Plan more friendly to the Planet, brings home an important victory.