By Ron Bousso
LONDON, April 7 (Reuters) - An activist group said it haswithdrawn a shareholder resolution calling on Royal Dutch Shellto change its climate policy after the oil and gascompany reached a broad agreement with investors on the issue.
The Anglo-Dutch energy company drew rare praise frominvestors and environmental activists in December when it setout plans to introduce industry-leading targets to reducegreenhouse gas emissions and link them to executivepay.
Nevertheless, Dutch activist group Follow This tabledseveral days later a resolution urging Shell to drasticallyreduce its spending on fossil fuel.
Shell's board opposed the resolution, which was to be votedon at the annual general meeting in The Hague in May.
Following talks with six of the 10 largest Dutch investorsincluding Aegon and NN Investment Partners, FollowThis decided to withdraw the resolution after filing similarmotions at the previous three Shell AGMs.
"We have therefore decided to give Shell time to bring thatclimate ambition into line with the Paris Climate Agreement,"Follow This founder Mark van Baal said in a statement.
Follow This said Shell's ambition to halve overall emissionsby 2050 needed to be "sharpened" in order to be aligned with theParis Climate Agreement.
Follow This also targets Shell's rivals BP, EquinorChevron with shareholderresolutions.(Reporting by Ron Bousso; Editing by Susan Fenton)
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