More than 20 investors, joined by climate activist shareholder group Follow This, submitted a resolution at Shell’s annual meeting calling for a detailed disclosure of the company’s strategy to generate shareholder value if global demand for oil and gas declines. The resolution requests that Shell publish a scenario analysis covering at least three demand trajectories, including a 1.5°C-aligned pathway, with associated capital expenditure assumptions and projected returns on invested capital. Proponents argue that without this disclosure, investors lack clarity on how Shell plans to protect dividends and maintain a sustainable balance sheet in a transitioning energy market.

Shell has committed $9.3 million of the $18.6 million total funding for the Carbon Countdown initiative, co-led with Petrobras and Brazil’s Ministry of Science, Technology and Innovations. The programme will operate over four years in the Amazon and Cerrado biomes, using remote sensing and ground-based sampling to quantify soil and forest carbon stocks. Results are expected to inform Brazil’s forthcoming national climate policy update and support Shell’s own Scope 3 emissions reduction targets by improving the accuracy of land-use change data in its supply chains.

In a joint announcement with Exxon Mobil, Shell confirmed that it has paused the planned divestment of its gas production interests in the UK’s Southern North Sea to Viaro Energy. The decision follows revised valuations for the Aldbrough and Ravenspurn gas fields, where recent engineering updates increased decommissioning cost estimates by 15 % to £460 million. Shell stated that it will undertake further technical studies to reassess project economics and determine the optimal structure for any future transaction, noting potential implications for cash flow forecasts and asset retirement obligations in its 2026 financial planning.