Viewing a single comment thread. View all comments

garlicroastedpotato t1_j6sw5hd wrote

I don't see this going anywhere. Their case is that their website says it invests in "wind, solar, hydrogen, electric charging and more" that they've found they're misleading investors since they've only invested 2.5% of their capex on wind and solar (compared to 12% for this whole group).

But this fund isn't just for wind and solar power. It also covers electric charging stations at Shell gas stations, tidal power, geothermal power, hydrogen, blended biofuels, and hydropower.

There's really nothing misleading about what they're saying here to investors. If you read that page and thought Shell was putting 12% of its capex budget into solar... well I have a bridge to sell you.

25

MrNokill t1_j6ucqml wrote

>they've only invested 2.5%

Lawsuit argues it's only 1.5% of actual investment into green, and that's likely giving Shell the benefit of the doubt.

9

butts____mcgee t1_j6tk2ud wrote

Yup. The actual problem for Shell - like BP - is that they're spending way TOO MUCH money on a horribly unprofitable segment. ROCE gonna dive.

−10