Jacob Meldgaard after Shell ruling: Oil companies have had "a sheltered existence"

Torm CEO Jacob Meldgaard, also chair of Danish Shipping, sees the sensational ruling against oil company Shell, and the increasing pressure on major oil companies to cut CO2 emissions, as a "natural pressure". The oil companies, which are among Torm's customers, have had "a sheltered existence", he tells ShippingWatch.

Photo: Fotograf Carsten Lundager

Major global oil companies have recently come under massive pressure to increase their climate ambitions and further reduce harmful emissions, such as CO2.

In a sensational ruling on Wednesday, Shell was ordered by a Dutch court to raise its CO2 reduction target significantly for both the oil company and the company's customers and suppliers.

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