Shell, in contrast to BP, allows AGM vote on Follow This climate resolution

LONDON, April 14 (Reuters) - Shell will ​allow its ‌shareholders to vote on a resolution tabled by ⁠climate activist investor group Follow This ⁠at its annual general meeting, ​recommending a vote against it, according to its notice of meeting. This stands in contrast to BP, whose ​board ‌decided not to include the Follow This resolution on its agenda, triggering some of its shareholders and influential proxy adviser groups to recommend votes ​against the board's wishes.

The Follow This resolution ‌calls on Shell to disclose how its strategy would perform under scenarios of ‌declining demand for oil and gas. BP has said the resolution was invalid and would be ineffective ​if it were to pass at its AGM.

Shell said ‌Follow This's questions are comprehensively covered by Shell's existing disclosures which enable shareholders to model the financial resilience ⁠of ⁠the company in any price scenario ‌of their choosing.

Shell also said that were the Follow This ​resolution ​to pass, it would be against ‌good governance because it would hold Shell to certain scenarios that are subject to change. (Reporting by Shadia Nasralla; Editing by Kirsten Donovan)

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