Shell to Quit American Fuel & Petrochemical Manufacturers Over Climate Policy

Date : 04/02/2019 @ 12:25PM
Source : Dow Jones News

Shell to Quit American Fuel & Petrochemical Manufacturers Over Climate Policy

Royal Dutch Shell (LSE:RDSB)
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By Oliver Griffin

 

Royal Dutch Shell PLC (RDSB.LN) said Tuesday that it won't renew its membership with industry association American Fuel & Petrochemical Manufacturers in 2020, due to a material misalignment over climate policy.

The Anglo-Dutch oil-and-gas major said it decided to part ways with AFPM after conducting its first review on its association within 19 industry groups.

The company said it found some misalignment with nine other bodies, including the American Petroleum Institute and FuelsEurope.

Chief Executive Ben van Beurden said it was important that Shell's participation in industry associations is consistent with the company's views.

Mr. van Beurden said: "We must be prepared to openly voice our concerns where we find misalignment with an industry association on climate-related policy. In cases of material misalignment, we should also be prepared to walk away."

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

April 02, 2019 07:10 ET (11:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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