The market for carbon credits is facing a renewed wave of opposition as climate activists deliver a fresh warning to companies and governments not to use such financial instruments to offset their emissions.
The Shell official went on to say the “claim is utterly misconceived and a clear misuse of the English courts. Should ClientEarth seek permission to appeal, we remain confident that the court will stand by its rulings.”
Shell (LON: SHEL) faces a new front in climate litigation as a group of frustrated shareholders launch a lawsuit against the oil giant’s board in the UK.
“Personal claims against directors may be a potential area of growth. Directors will have to take the threat seriously, as they have an impact on their professional and personal lives,” Calvert warned.
A climate group is preparing legal action against the board of directors at Shell (LON: SHEL) for not preparing the oil giant to cut emissions fast enough.
A strategy to cut UK greenhouse emissions from housing, businesses, transport and the power sector while boosting economic growth is set to be published by the Government.
ClientEarth has written to BP, Glencore and investors warning of the risk of investor law suits based on statements about future fossil fuel demand in their reporting.
The UK is finally moving beyond burning coal to generate electricity. Many in government and industry have held up biomass as its natural, renewable replacement. Billed as low-carbon and easy to burn using existing technologies, it’s an apparently ideal solution and in the UK, it’s riding a wave of subsidies. But it’s time to shed some light on the dubious evidence that lends biomass its status as a renewable energy source.