Energy divestment campaigns a ‘red herring’, says Shell CEO
Markets | Thu May 21, 2015 London
Royal Dutch Shell Chief Executive Ben van Beurden on Thursday slammed as a “red herring” calls for investors to divest from energy companies as part of the fight against climate change.
Van Beurden singled out the “Keep it in the Ground” campaign led by British newspaper The Guardian that aims at keeping charitable funds from investing in fossil fuels.
“The divest campaign, or Keep it in the Ground or the carbon bubble, ignore reality that 80 percent of the investment in the industry has to be done just to stand still to arrest decline. It is a red herring,” van Beurden told shareholders.
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