Shell CEO Wael Sawan told attendees at an energy conference this week that shareholders will make the final call on the viability of low-carbon options—weeks after two employees wrote him an open letter expressing “deep concern” about his strategy and urged him not to scale back on renewables investments.
Shell has no plans to change direction, Sawan told the ADIPEC energy conference in Abu Dhabi on Monday, reports Reuters.
“Ultimately the shareholder needs to make a judgment whether the low-carbon energy options we’re putting in front of them are investable, and we need to be able to cover our cost of capital and make a return for our shareholders,” he said.
Last month, two employees of Shell’s low-carbon division wrote to Sawan and to Shell’s executive committee, stating in an open letter that his recent announcements have given them pause, the news agency previously reported.
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