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Article

17 Feb 2010

Author:
Daniel Brooksbank, Responsible Investor

Shell freezes exec salaries and includes sustainability performance after shareholder pressure

Institutional shareholders have welcomed an announcement by Shell…that it plans to limit top executives’ pay and include sustainable development as a significant part of performance bonuses…Erik Breen, head of responsible investment at Robeco Investment Management… pointed to the company’s decision to increase the role of sustainability in executive performance evaluation as a positive response to shareholder lobbying… Last month a group of UK institutional shareholders including the Co-operative Asset Management and the Unison Staff Pension Scheme, filed a shareholder resolution…calling on the company to report on the investment risks associated with controversial oil sands projects in Canada…Shell is also…under pressure from Church investors…to adopt a ten-point plan to combat environmental and social damage in the Niger Delta

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