The Hague court ordered Shell (LON: RDSB) to reduce global carbon emissions by 45% by the end of 2030.
This groundbreaking ruling aimed at filing the FTSE 100 company in line with the Paris Agreement is the first in history.
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“The court orders that its CO2 output and supplier and buyer output by the end of 2030, with a 45% net based on the Royal Dutch Shell… 2019 levels,” the court said. “The Royal Dutch Shell must implement this decision at once.”
Shell, the ninth largest contaminant in the world from 1988 to 2015, has the right to appeal the sentence.
Donald Polls, director of Friends of the Earth Netherlands (Foe NL), the group that organized the case, described the verdict as “a monumental victory.”
“The judges leave no doubt. Shell is causing dangerous climate change and we must stop destructive action right now,” Pols said in a statement.
Shell said it would be disappointed and appeal the decision, but it must immediately follow the ruling.
Shell’s stock price has moved sideways for the past two months, making it seem unclear what will be the next move.
