Oil and gas major Shell on Tuesday won an appeal against a landmark ruling that required it to accelerate carbon reduction efforts, dealing a blow to campaigners who have turned to legal channels to pursue climate action.
The appeals court in The Hague said Shell had a responsibility to reduce greenhouse gas emissions to protect people from global warming. But it dismissed the 2021 ruling that ordered Shell to cut its absolute carbon emissions by 45 per cent by 2030 compared to 2019 levels, including those caused by the use of its products.
Since then, Russia's invasion of Ukraine in 2022 that led to a spike in oil and gas prices has sharpened governments' and shareholders' focus on costs and in many cases, weakened climate ambitions.
Denne historien er fra November 13, 2024-utgaven av Business Standard.
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Denne historien er fra November 13, 2024-utgaven av Business Standard.
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