In response to Shell’s industry associations climate review, Jeanne Martin, Senior Campaigns Officer at ShareAction, says: “We are pleased that Shell has identified and acted on the material risks of remaining in the American Fuel & Petrochemical Manufacturers (AFPM), following forceful engagement by institutional investors and NGOs. The AFPM has a history of obstructing the implementation of sensible climate policy. Notably, it funded campaigns to oppose carbon tax policies in Washington State in both 2016 and 2018 and has consistently opposed EV subsidies and mandates. Shell has also put its membership of 9 other trade bodies, including the American Petroleum Institute, the National Manufacturers Associations and the US Chamber of Commerce, under review. This should send a strong message to the US lobby powerhouse that the days of funding climate denial groups and being a toxic drag on US climate policy debate are coming to an end. Investors should keep a close eye on Shell’s engagement with these trade associations and urge the other oil majors to follow suit.”

Notes to editors:

  • For more information, please contact Beau O’Sullivan at beau.osullivan@shareaction.org