Pension companies endorsed Shell's climate plan before rejection by Dutch court

Five pension companies voted, much like the majority of Shell's shareholders, to approve the oil company's climate plan shortly before a Dutch ruling rejected it. The burden of proof is now on oil companies that have to show that they are on the right side of the Paris Agreement, according to Danish pension provider PFA.

Photo: Gerald Herbert/AP/Ritzau Scanpix

Just nine days before a Dutch court rejected Shell's climate plan, five pension companies approved the oil company's green ambitions.

PFA, Danica, Lægernes Pension, Sampension and Pensiondanmark all voted in favor of the plan on Shell's general assembly on May 18 when the vote was held. The deal was approved after receiving 89 percent of the votes.

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