Shell Investors Back Weaker Emissions Targets at Meeting (1)

Shell Plc shareholders approved the company’s new energy transition plan with weaker carbon-emissions targets, while rejecting a resolution asking the oil and gas giant to align itself with the goals of the Paris Climate Agreement.

Shell’s updated energy transition strategy got the backing of 78% of shareholders at the company’s annual general meeting on Tuesday. Only 19% voted for the climate resolution, filed by activist shareholder Follow This and 27 investors — including Amundi SA, Europe’s largest asset manager — that jointly manage funds worth more than $4 trillion.

“I’m very pleased with what we’ve got” in support from investors, ...