More than 20 institutional investors, supported by climate activist shareholder group Follow This, have filed binding resolutions at Shell’s upcoming annual general meeting. The proposals require Shell to publish a comprehensive strategy explaining how it will continue to generate value if global demand for oil and gas declines. Investors are seeking concrete financial projections for scenarios in which hydrocarbon volumes fall by up to 50% by 2040, as well as capital allocation plans for renewable and low-carbon businesses. Failure to provide this disclosure could expose Shell to heightened governance risk and potential voting sanctions from major asset managers overseeing over $2 trillion in assets under management.

Shell has committed $9.3 million of the $18.6 million Carbon Countdown initiative, in collaboration with Petrobras and Brazil’s Ministry of Science and Technology. The program will deploy satellite imaging and ground-based sensors across 1.2 million hectares of Amazon rainforest and Cerrado savanna to measure soil and forest carbon stocks. Data collected over a five-year period will inform national climate policy and potential carbon credit frameworks. For Shell, participation underscores its strategy to position itself as a provider of high-integrity carbon data services, targeting an initial customer pipeline including agribusiness and sovereign buyers valued at $150 million by 2028.

Shell and ExxonMobil have jointly suspended the planned divestment of their remaining natural gas interests in the UK’s Southern North Sea to Viaro Energy. The move, announced Wednesday, follows a strategic review prompted by rising wholesale gas prices and tight supply fundamentals in the European market. Shell said it will continue to operate the assets through 2026, expecting to produce approximately 4 billion cubic feet of gas per month. The decision delays Shell’s target to reduce its UK upstream portfolio by 25% by 2025 and may lead to revised guidance on its capital expenditure plan for the region.