Martin Ford 10 February 2023

London CIV backs Shell legal battle

London CIV backs Shell legal battle image
Image: Aaban/Shutterstock.com.

A lawsuit against energy giant Shell’s directors has been backed by a key local government pensions organisation.

The legal claim, which has attracted support from numerous other shareholders, accused Shell of ‘climate risk mismanagement’.

London CIV, which manages the assets of London local government pension schemes, said it was ‘fully supporting’ the action brought by environmental charity ClientEarth against the 11 directors at the High Court.

In a letter, London CIV wrote: ‘The key concern is that it does not believe the board has adopted a reasonable or effective strategy to manage the risks associated with climate change affecting Shell.

‘Shell’s investments are far too low and in stark contrast with its continued overinvestments in fossil fuels.

‘We consider that ClientEarth’s claim is in our client funds’ interests as a shareholder of Shell and we support it.’

London CIV called for Shell to move away from oil and gas projects.

A Shell spokesperson said: ‘We do not accept ClientEarth’s allegations.

'Our directors have complied with their legal duties and have, at all times, acted in the best interests of the company.’

This article was originally published by The MJ (£).

SIGN UP
For your free daily news bulletin
Highways jobs

Family Support Worker

Durham County Council
Grade 6 £27,269 - £30,060 (Pay Award Pending)
Do you want to work in an ambitious Local Authority with strong leadership and partnership commitment to Children’s Services? Durham County Council a Durham
Recuriter: Durham County Council

SENDIASS Support Officer

Durham County Council
Grade 8 £31,586 - £35,235 (Pay Award Pending)
An exciting and rewarding opportunity has arisen within the busy and fast paced SEND Information, Advice, Support Service (SENDIASS). The service has Durham
Recuriter: Durham County Council

Residential Worker

Durham County Council
Grade 7 £29,093 - £32,654 (Pay Award Pending)
Salary
Recuriter: Durham County Council

Team Leader

Durham County Council
Grade 8 £31,586 - £35,235 (Pay Award Pending)
Salary
Recuriter: Durham County Council

Class Teacher

Durham County Council
£31,650- £33,483
Class Teacher MPS 1 -2   £31,650- £33,483 Temporary – required from Monday 1st September 2025 (subject to DBS) until 31st August 2026 25 hours per wee Durham
Recuriter: Durham County Council
Linkedin Banner