On Tuesday, Royal Dutch Shell said it would leave the US Fuel and Petrochemical Producers Group (AFPM) due to "material misalignment" in climate-related positions – the first major oil and gas group to end the refined climate over climate policy disagreements .
In its Industry Association Climate Review published on Tuesday, Shell said it had undergone industry association membership in light of Shell's climate positions. Of the 19 associations reviewed, Shell found that "there was material misalignment with an industry association, American Fuel & Petrochemical Manufacturers (AFPM)."
"We have decided not to renew our membership in the AFPM in 2020," the Major Major said.
Shell's reasons for terminating the AFPM include the fact that the association does not support the Paris Agreement, which Shell supports, as well as AFPM's position that does not support CO2 pricing.
"Shell has supported state-level and federal-level CO2 price initiatives, such as the California Cap-and-Trade program, said the superpower.
Shell Investor, The Church of England Pension Committee, welcomed the decision of the Oil and Gas Groups to Leave AFPM.
"This is an industry first. With this assessment, Shell has set the benchmark for best practice in business climate lobbying, not just in Oil and Gas, but in all industries. The challenge is now for others to follow, says Adam Matthews, Church of England Ethics and Engagement Director.
Shell was one of the first super magazines to begin setting climate goals among increased investor pressures for openness.
Last month, Shell announced its first and next short-term goals to reduce the carbon footprint of its business and product sales, as the oil and gas industry is under intense investor and shareholder pressure to tackle climate change.
In December last year, in an industry first, Shell said it plans to set short-term goals to reduce net CO2 emissions of energy products that are selling and linking these goals with leading remuneration.
By Tsvetana Paraskova for Oilprice. com
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