"A climate activist group is urging the US Securities and Exchange Commission to investigate whether Shell Plc’s claims about its investments in renewable energy are misleading to investors.
Global Witness said that it filed a complaint with the SEC’s Climate and ESG Task Force and through the agency’s tips portal over Shell’s statements on renewables. The London-based energy giant may have “materially misstated its financial commitment to renewable sources of energy,” the nonprofit said in a copy of the filing reviewed by Bloomberg News.
The greenwashing allegation, which Shell denies, adds to efforts to put pressure on some of the world’s biggest polluters as regulators take a growing interest in climate change. It comes on the heels of a 2021 court ruling in the Netherlands ordering Shell to more aggressively reduce its carbon emissions. The company is appealing that decision."
Will Mathis and Austin Weinstein report for Bloomberg Green February 1, 2023.
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