Possible financial implications

‘Follow This asks Shell and BP about risks as oil demand falls’

Follow This wil van dat Shell en BP weten hoe zij “aandeelhouderswaarde creëren in scenario’s waarin de vraag naar olie en gas daalt”. Foto: Shutterstock

Activist investment group Follow This wants an explanation of the financial risks associated with a possible drop in oil and gas demand at Shell and BP’s upcoming annual shareholder meetings.

The ANP reports that this is an attempt by the investor collective Follow This to gain more support for its shareholder resolutions, which call for stronger climate policies within the oil industry.

Follow This, founded by Dutchman Mark van Baal, started ten years ago by tabling resolutions at shareholder meetings of companies including Shell and BP. The aim was to get companies to do more to reduce CO2 emissions. According to the ANP, support among shareholders for these calls initially increased, but has stagnated in recent years. At Shell, support remained stuck at around 20 per cent.

In 2025, Follow This decided not to attend a shareholders’ meeting for the first time in nine years and took a break. The reason, the organisation said, were concerns among investors about possible political and legal retaliation against climate activism in the United States.

Future scenarios

Now Follow This wants Shell and BP to explain how they “create shareholder value in scenarios where demand for oil and gas falls”, the organisation reports. In doing so, it asks the companies to consider various future scenarios from the International Energy Agency (IEA), in which global demand for fossil fuels falls.

“These resolutions are designed to increase shareholder pressure and draw attention to the financial sustainability of the business model behind fossil fuels,” says Van Baal. The idea to shift the focus to the financial implications for Shell and BP in the event of declining oil and gas demand arose after discussions with institutional investors, such as insurers and pension funds.

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This article was automatically translated from the Dutch language original to English (British).

Author: Nina Koelewijn

Source: MobilityEnergy.com

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