illuminem summarizes for you the essential news of the day. Read the full piece on the Financial Times or enjoy below:

🗞️ Driving the news: Major shareholders in Shell, including Amundi and Axa Investment Managers, have filed a resolution urging the company to align its medium-term emissions targets with the Paris Agreement
• The resolution calls for more aggressive climate action, in contrast to Shell's current stance

🔭 The context: This resolution and accompanying letter, backed by 27 shareholders owning 2.5% of Shell, marks a significant push for climate policy reform within the oil and gas industry
• It comes in response to Shell's perceived backtrack on its climate goals, and amid broader debates about industry responsibilities in combating climate change

🌍 Why it matters for the planet: Aligning Shell's targets with the Paris Agreement is crucial to curbing global warming
• The letter emphasizes the necessity of climate action to preserve the global economy and signals an intensifying demand for responsible practices in the energy sector

⏭️ What's next: The annual meeting later this month will see a vote on the resolution. The outcome may serve as a bellwether for industry trends, with oil majors watching closely

💬 One quote: "This year’s vote is especially important as Shell has recently backtracked on its climate targets," states the letter coordinated by Follow This

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