Royal Dutch Shell gave in to growing investor pressure over climate change on Monday, setting out plans to introduce industry-leading carbon emissions targets linked to executive pay.

In response, Jeanne Martin, senior campaigns officer at ShareAction, said: “As the world hurtles towards a possible climate breakdown, we need to see leadership like never before. We applaud Shell for listening to its shareholders – big and small – and taking a lead in setting carbon emissions reduction targets. We will continue to monitor the company to make sure these targets are actually Paris compliant.

“ShareAction has long argued that climate targets should be linked to remuneration policies, and we are pleased to see that more than 1,200 senior managers at Shell will be personally accountable for the success of its emissions reduction strategy. This is only a glimpse of what forceful engagement can achieve – and we hope this unprecedented move will push other oil and gas companies to follow suit.”