Norway’s Wealth Fund Asks Shell for More Climate Disclosures (1)

Norway’s $1.6 trillion wealth fund asked Shell Plc to disclose more information about its climate strategy, but stopped short of backing other investors’ push for the oil and gas giant to align itself with the Paris Climate Agreement.

Shell’s strategy “sufficiently retains the core components of a Paris-aligned transition plan” as well as the fund’s own expectations on climate change, Norges Bank Investment Management said in an update ahead of the energy giant’s annual general meeting on May 21.

The company’s plan has “evolved” under Chief Executive Officer Wael Sawan, NBIM added. “We have encouraged Shell to make additional ...