Shell shareholders demand accountability on human rights

Feb 24, 1997 01:00 AM

Shell's record on human rights and the environment was back under the spotlight recently as a group of institutional shareholders called for greater company accountability. A resolution put down for Shell Transport and Trading Company's annual meeting in London in May called for the company to make a commitment to operate on the "highest international standards on a group wide basis." The call followed criticisms of Shell's attempt to sink the Brent Spar oil rig in the Atlantic Ocean and the company's human rights and environmental record in Nigeria. The motion came from 25 funds and institutions representing a little less than 1 % of Shell Transport shareholders, under the guidance of advisory service Pensions and Investment Research Consultants (PIRC). The resolution demands that Shell name a managing director to handle environmental and corporate responsibility policies and establish an independent external review of company procedures. It also calls for a regular report to shareholders on implementation of the policies.
Shell last year launched a review of its business principles and said it was expecting to include an explicit reference to human rights.

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