Shell (SHEL, Financial) announced that a Dutch court has ruled favorably in an appeal concerning a significant 2021 decision which held the company partially accountable for climate change and mandated a drastic cut in carbon emissions.
The original 2021 ruling by the Hague District Court required Shell to reduce its carbon emissions by 45% by the end of 2030 based on 2019 levels. However, Shell argued that such a decision would have minimal impact on emission reductions since customer demands for gasoline products would remain unchanged.
Shell's CEO, Wael Sawan, expressed satisfaction with the latest court decision, stating it supports the global energy transition.
