Related Articles
PME and Shell are headquartered in the Hague
Forward article link
Share PDF with colleagues

Dutch pension funds hasten exit from oil and gas sector

PME and Dutch hospitality fund unwind fossil fuel investments in wake of Shell climate case defeat

Dutch pension funds are speeding up divestments from oil and gas companies after a landmark court ruling against Shell spooked investors. The oil major lost a legal battle in May in which a Hague-based court ordered it to deepen its greenhouse gas emissions cuts to 45pc by 2030 compared with 2019 levels, signalling that corporations are increasingly being held legally accountable for their climate impact. Shell says it will appeal against the ruling. One of the Netherlands’ largest pension funds, PME, announced on Friday that it had sold stocks in oil and gas companies—including Shell, BP and Total—and that it would no longer invest in them. The pension fund, which has around €62bn ($73.8



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
UK’s Britishvolt secures funding for EV battery gigaplant
24 January 2022
Plant designed to produce 300,000 lithium-ion EV battery packs a year, with startup schedule for late 2023 or early 2024
Shell targets new hydrogen and CCS projects in 2022
21 January 2022
Oil major must be a pace setter in energy transition with a bolder strategy, CEO Ben van Beurden says
New York’s first offshore windfarm to begin construction
21 January 2022
Orsted and Eversource project secures final regulatory approval from Boem following environmental review
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video