{"id":37005,"date":"2018-08-24T06:12:33","date_gmt":"2018-08-24T11:12:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37005"},"modified":"2018-08-24T06:12:33","modified_gmt":"2018-08-24T11:12:33","slug":"exclusive-shell-took-16-years-to-warn-shareholders-of-climate-risks-despite-knowing-in-private-all-along","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37005","title":{"rendered":"Exclusive: Shell Took 16 Years To Warn Shareholders of Climate Risks, Despite Knowing in Private All Along"},"content":{"rendered":"<h3><a href=\"https:\/\/www.desmogblog.com\/2018\/08\/20\/exclusive-company-docs-show-shell-secretly-studied-climate-risks-10-years-warning-investors\">Exclusive: Shell Took 16 Years To Warn Shareholders of Climate Risks, Despite Knowing in Private All Along<\/a><\/h3>\n<p>It took oil company Shell more than 16 years to directly warn its shareholders that climate policy posed a financial risk to the company&#8217;s business model despite knowing \u2014\u00a0in private and for decades\u00a0\u2014 about the relationship between its products and climate\u00a0change.<\/p>\n<p>Shell started commissioning confidential work about the impact of burning fossil fuels on the global climate as early as 1981. However, analysis by DeSmog UK and DeSmog found that Shell did not start mentioning the possibility of climate change to shareholders in annual reports before 1991 \u2014 10 years after the company started a research stream to study climate\u00a0change.<\/p>\n<p>Analysis of Shell\u2019s annual reports and financial records at the time show the company did not give a clear warning to its shareholders about the financial risks \u201crelated to the impact of climate change\u201d and attached to their investments until\u00a02004.<\/p>\n<p>DeSmog UK and DeSmog have worked through Shell companies\u2019 annual reports submitted to the UK\u2019s Companies House and 10-K\u2019s and 20-F forms filed under the U.S. Securities and Exchange Commission (SEC) throughout the 1990s and early 2000s to compare what the company knew in private at the end of the 1980s and what it told its shareholders about the environmental and financial risks attached to their investment during the following\u00a0decade.<\/p>\n<p><strong>Early\u00a0Days<\/strong><\/p>\n<p>What Shell knew about climate change at the end of the 1980s is well-established and revealed in a confidential report commissioned by and for Shell called \u201c<a href=\"http:\/\/www.climatefiles.com\/shell\/1988-shell-report-greenhouse\/\">The Greenhouse Effect<\/a>\u201d.<\/p>\n<p>The report was dated 1988 and made public for the first time this year after being uncovered by<a href=\"https:\/\/decorrespondent.nl\/jelmermommers\"> Jelmer Mommers<\/a> of<a href=\"https:\/\/decorrespondent.nl\/\"> <em>De Correspondent<\/em><\/a> and published on<a href=\"http:\/\/www.climatefiles.com\/\"> Climate Files<\/a>. It reveals the company\u2019s examination of climate change had already been ongoing for at least seven\u00a0years.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exclusive: Shell Took 16 Years To Warn Shareholders of Climate Risks, Despite Knowing in Private All Along It took oil company Shell more than 16 years to directly warn its shareholders that climate policy posed a financial risk to the company&#8217;s business model despite knowing \u2014\u00a0in private and for decades\u00a0\u2014 about the relationship between its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[20145,140,141,21394,5317,369,6005,21393,11167,2100],"class_list":["post-37005","post","type-post","status-publish","format-standard","hentry","category-environment","tag-chloe-farand","tag-climate","tag-climate-change","tag-climate-files","tag-desmog-blog","tag-global-warming","tag-greenhouse-effect","tag-jelmer-mommers","tag-sharon-kelly","tag-shell"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37005"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37005\/revisions"}],"predecessor-version":[{"id":37006,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37005\/revisions\/37006"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}