Shell experiences executive pay grilling

Over a quarter of Shell investors voted against the firm’s remuneration report, which proposed that Chief Executive, Ben Van Beurden would receive £7.9million this year.

At its annual general meeting on Tuesday, shareholders of the Anglo-Dutch oil company disapproved of the executive pay structure, following concerns about the company’s performance on its sustainable development targets – the Guardian reports.

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At the meeting, the oil giant faced a grilling from investors over its action to reduce carbon emissions, however, they defeated a motion calling for tougher targets in line with the Paris climate deal. 94% of shareholder votes were against a resolution forcing it to commit to firmer targets.

However, activists wanted more concrete targets, arguing that Shell’s ambitions weren’t enough to limit global temperature rises – The FT reports. The agreement commits to holding the average global temperature to “well below 2C”.