Climate protesters attempt to storm the stage at the tense Shell AGM
The shareholder uprising against the Shell board has garnered a fifth of the votes at a shareholder meeting where climate protesters tried to take the stage.
Suit-clad members of the security team in London shook hands to protect Chairman Sir Andrew Mackenzie and Chief Executive Wael Sawan as a handful of protesters attempted to rush onto the stage.
Campaign group Fossil Free London later claimed responsibility for the stampede, while several other groups also sang songs and shouted slogans against the oil and gas producer.
“Lock Shell,” dozens of protesters chanted for most of the first hour, making it impossible for Sir Andrew to open the gathering.
The chaotic scenes at the Excel conference center in London came as shareholders were asked to vote on Shell’s environmental report.
Most did, but an alternative plan proposed by activist investors at Follow This secured 20.2% of the vote, Shell announced.
“Considering that on the other 25 resolutions up to 99% of shareholders voted with the board, 20% in support and a significant number of abstentions despite a negative recommendation from the board, clearly shows shareholder dissatisfaction,” said Mark van Baal, founder of Follow This after the meeting.
During the four-hour event, heated arguments erupted not only between the board of directors and the protesters, but also with shareholders who wanted the company to do more to reduce its environmental impact.
Dozens of protesters were carried from the room, one still shouting “climate criminals” while three security guards held his arms and legs.
After the stage was stormed about 50 minutes into the event, a woman appeared to faint as security escorted her out. Another screamed that the three men who carried her out of the room would hurt her.
“Obviously this latest incident went a step further than what we experienced in the first part of today,” Sir Andrew said after the protesters were led out. He added that people would be removed if they tried to get onto the stage again.
However, the protesters – who had to own Shell shares to get into the building – also managed to frustrate other shareholders in the room. Some shouted “shut up” and “get a job”.
The meeting continued as planned after just over an hour.
The security service repeatedly escorted the demonstrators out one after the other. However, one protester was replaced by another, continuing the disruption.
In the confusion, Sir Andrew also mistakenly called on security forces to remove from office a non-protesting shareholder who had stood up to demand the meeting continue.
“Are you asking us to start the meeting? My apologies,” he said to laughter from around the room.
At the start of the gathering, a group of protesters sang, “Go to hell Shell and don’t come back no more, no more, no more, no more,” to the tune of Ray Charles’ song “Hit The Road Jack.”
The first protester to stand up shouted, “Welcome to Shell… Complicit in the destruction of people’s homes, livelihoods and lives. Welcome to Hell.”
He added: “I refuse to accept your hell on earth. Officers, directors and shareholders, I am here to demand that you close Shell.”
He also said, “Sea levels are rising and so are people.”
Sea levels are rising and so are people!
As the gathering progressed, the crowd thinned as protesters were removed.
After a few hours, shareholders had the opportunity to ask questions. Many focused on the pollution in Shell’s history and what they saw as inadequate plans to reduce emissions.
Follow This’s Mr van Baal turned his back on the board and said his plan would make Shell’s climate ambitions clearer and stronger.
“I won’t waste any more time, I won’t waste anyone trying to convince the board today,” he said with his back to Sir Andrew and Mr Sawan.
“Instead, I turn to our fellow shareholders: Dear shareholders, your board is determined to stick with hydrocarbons only because you, dear shareholders, allow them to. Because your shareholders continue to vote against change.”
But Sir Andrew argued that Mr van Baal’s plan would harm rather than improve Shell’s ability to “help the world”.
The targets it contained would “weaken our business,” he added.
“It would force us to reduce the number of customers we serve and, importantly, the number of customers we want to decarbonize,” he told shareholders.
“It would limit our ability to help the world reduce carbon emissions through our decarbonized products.”
He urged shareholders to vote against the resolution.
According to the results, they followed his advice, but a significant number of them voted to remove him from the board.
Shell said 6.9% of shareholder votes were against Sir Andrew’s re-election, while 5.3% voted against the pay packages handed out to top managers last year.
https://www.standard.co.uk/business/business-news/climate-change-protesters-try-to-storm-the-stage-at-tense-shell-agm-b1083163.html Climate protesters attempt to storm the stage at the tense Shell AGM
