Shell’s Board of Directors Sued Over ‘Flawed’ Climate Strategy in First-of-its-Kind Lawsuit
Shell’s board of directors are being personally sued over their alleged failure to properly manage risks associated with the climate crisis.
Environmental law charity ClientEarth, which filed the lawsuit, says it is the first case in the world that looks to hold corporate directors personally responsible for failing to prepare for the energy transition.
The legal claim also has the backing of institutional investors and pension funds who together own over 12 million of Shell’s 7 billion shares. These investors include pension funds like Nest - the UK’s largest workplace pension scheme - and London CIV in the UK and Swedish national pension fund AP3.