SHEL Shell Plc

By Joe Hoppe

Shell PLC said Tuesday that all resolutions passed at its annual general meeting, except one put forward by shareholders concerning its Paris Climate Agreement targets.

The oil major said a resolution to approve its energy transition progress and its energy transition progress report passed with 79.91% of votes in favor.

However, resolution 21, a shareholder resolution for the company to report on its strategy and underlying policies for reaching targets consistent with the goal of Paris Climate Agreement, failed to pass, receiving the support of just 20.29% of shareholders.

The company had recommended shareholders vote against the resolution.

"We are pleased that the overwhelming majority of shareholders continue to support Shell, our energy transition strategy and the progress we have made in the past 12 months. We are also encouraged by the reduced support for shareholder resolution number 21 but recognize there is still work to do," Chief Executive Ben van Beurden said.

The company said it will consult shareholders to understand the votes and formally report back to investors.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

May 24, 2022 11:55 ET (15:55 GMT)

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