Shell wins landmark climate case - what does it mean for investors? - video Dailymotion

euronews (in English)

The current court decision does not mean that the oil giant will turn away from its green targets, but it will mean Shell can continue its present level of drilling.

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00:00In a defeat for climate activists, a Dutch appeals court has overturned a landmark ruling

00:08in favor of energy company Shell.

00:11The environmental group Milieudefensie originally filed the case, which ordered Shell to cut

00:16its carbon emissions by net 45 percent by 2030 compared to 2019 levels.

00:23Shell has set a specific reduction target for Scope 1 and 2, which includes that its

00:32Scope 1 and 2 emissions in 2030 will be reduced by 50 percent compared to 2016.

00:43Further, Shell's documents indicate that by 2023 it had already achieved a reduction

00:51of 31 percent.

00:55Activists who had gathered on the courthouse steps responded with emotion, but Milieudefensie

01:00director Donald Poels pledged to continue the fight against climate change.

01:04I was shocked.

01:07This should have been the moment when we could have realized the breakthrough in the fight

01:17against dangerous climate change.

01:18That didn't happen today, but the fight against dangerous climate change is a marathon, not

01:24a sprint, and the race has just begun.

01:27The court emphasized that protection against climate change is a human right, but that

01:31oil and gas companies have their own responsibility to protect that, adding that there is no law

01:36to prescribe specific CO2 reductions.

01:39Tuesday's civil ruling can still be appealed to the Dutch Supreme Court.

Shell wins landmark climate case - what does it mean for investors?

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