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Dutch group Follow This on Wednesday launched a newly revised strategy to take on Big Oil at the upcoming proxy season, seeking to increase shareholder pressure on the financial sustainability of fossil fuel business models.
The prominent climate activist group, which paused filing shareholder resolutions last year due to a lack of investor appetite, said it will change tack to focus on the financial risks associated with declining oil and gas demand — rather than requesting emission reduction targets.
The pivot comes as oil and gas majors double down on hydrocarbons and scale back green energy investments as part of a push to boost profit.
Alongside 23 institutional investors with 1.5 trillion euros ($1.75 trillion) in assets under management, Follow This said it has co-filed new shareholder resolutions for the Annual General Meetings (AGMs) of Britain’s Shell
