Energy company Shell has proposed linking its directors’ salaries more closely to the group’s climate performance and breaking the link between bonuses and liquefied natural gas (LNG) production. Reported by Reuters. If shareholders vote in favor of the plan at the May 18 meeting, Shell’s energy transition score on its target of zero net emissions by 2050 would double to 20% of the calculation of the long-term directors incentive plan.
For the successful implementation of climate goals, directors will receive a bonus increase of 15%. Shell’s efforts to reduce global warming emissions are now close to financial targets. The company, which did not pay its CEO Ben van Beerden a bonus in 2020, also offered not to raise his salary in 2021.