Impact Update: Getting Oil, Gas, and Mining on Board with Climate Action

Impact Update

Intentionally Designed Endowments Making a Difference


March 2019: Getting the Oil, Gas, and Mining Sector On Board with Climate Action


In March 2019, Shell laid out the concrete details behind a plan, announced in conjunction with institutional investors participating in Climate Action 100+, to reduce the Net Carbon Footprint (NCF) of its energy products. The highlights include a first three-year emissions reduction target covering all emissions, from extraction to end use of products; immediately tying remuneration of the top 150 executives to delivery of the target; and committing to set a further three-year NCF target in 2020.

Shell is not alone - in February, BP management recommended shareholders support a resolution aligning the company's strategy to the Paris Climate Accord, while a major global mining company, Swiss-based Glencore, agreed to cap its coal production at current levels and align with the Paris Climate Accord as part of the transition to a low-carbon economy. These announcements show that the kind of economic transformation we need is possible and already underway, even for companies in high-emitting sectors.

How Progress Was Made

These decisions were the result of effective pressure by the Climate Action 100+ coalition. Since its launch in December 2017, this global investor-led coalition of over 320 investors - with over $33 trillion in assets under management between them - have been directly engaging companies to reduce greenhouse gas emissions and improve both governance and transparency on climate impacts.

IEN Members Taking Action

IEN member University of Toronto is a Climate Action 100+ founding participant, engaging with target companies alongside pension funds, asset managers, foundations, and others (including a number of other IEN members).

What’s Next?

Learn more about current investor actions and join the coalition at

Take a look at other approaches to shareholder engagement in IEN's Intentionally Designed Endowment Roadmap.

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