A historic ruling has shaken the energy market this week after a Dutch court ordered oil major Shell to reduce its carbon emissions by 45 per cent by 2030 compared with 2019 levels.
The decision was delivered in connection with a climate change case filed against Shell in 2019 by Dutch environmental organization Friends of the Earth Netherlands (Milieudefensie), other NGOs, and a group of private individuals.
Even though Shell plans to appeal the ruling, NGOs see it as a turning point in history that could have major consequences on big polluters. Specifically, the ‘landmark victory’ is likely to result in a wave of litigation of other fossil energy companies pushing them to abandon extraction and burning of fossil fuels and accelerate their energy transition plans.
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This post appeared first on Offshore Energy.