{"id":7385,"date":"2019-04-03T16:52:49","date_gmt":"2019-04-03T15:52:49","guid":{"rendered":"https:\/\/www.wasteyourtime.co\/?p=7385"},"modified":"2019-09-09T12:47:47","modified_gmt":"2019-09-09T11:47:47","slug":"shell-left-afpm","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2019\/04\/shell-left-afpm\/","title":{"rendered":"Shell walks away from the U.S. refining lobby"},"content":{"rendered":"<p style=\"text-align: right;\"><i><span style=\"font-weight: 400;\">2 min read<\/span><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-7386\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/shell-walks-away-from-the-u-s-refining-lobby.png\" alt=\"Shell walks away from the U.S. refining lobby\" width=\"800\" height=\"741\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/shell-walks-away-from-the-u-s-refining-lobby.png 800w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/shell-walks-away-from-the-u-s-refining-lobby-300x278.png 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/shell-walks-away-from-the-u-s-refining-lobby-768x711.png 768w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/shell-walks-away-from-the-u-s-refining-lobby-370x343.png 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/shell-walks-away-from-the-u-s-refining-lobby-760x704.png 760w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/04\/shell-walks-away-from-the-u-s-refining-lobby-424x393.png 424w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><br \/>\n<span style=\"font-weight: 400;\">Shell or Royal Dutch Shell Plc is the first important oil and gas company to announce the plans to leave a U.S. refining lobby, <\/span><span style=\"font-weight: 400;\">AFPM<\/span><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This move comes due to the difference in policies on climate change. The point is that Shell supports the goals set by the Paris Agreement on climate change.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Their aim is to demonstrate to investors that they are familiar and want to accept to meet carbon emission goals set in Paris.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAFPM has not stated support for the goal of the Paris Agreement. Shell supports the goal of the Paris Agreement,\u201d the Shell said in its statement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Actually, as our unofficial sources say, this decision is caused by the pressure of the investors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It isn&#8217;t a secret that this oil and gas company has some very important institutional and private investors in the EU and UK who were clamoring about company\u2019s ambiguous stance on the Paris Agreement in recent time.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/shell-left-afpm\/#Shell_stated_%E2%80%9Cmaterial_misalignment%E2%80%9D_over_climate_policy\" >Shell stated &#8220;material misalignment&#8221; over climate policy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/shell-left-afpm\/#It_looks_like_no_one_will_fool_around_with_European_investors\" >It looks like no one will fool around with European investors.<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/04\/shell-left-afpm\/#Shell_and_some_other_big_refiners_in_recent_years_have_heavily_invested_in_new_the_cleaner_fuel_technology\" >Shell and some other big refiners in recent years have heavily invested in new, the cleaner, fuel technology.<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h4><span class=\"ez-toc-section\" id=\"Shell_stated_%E2%80%9Cmaterial_misalignment%E2%80%9D_over_climate_policy\"><\/span>Shell stated &#8220;material misalignment&#8221; over climate policy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">We found that Shell, in their first review, announced it had discovered &#8220;material misalignment&#8221; over climate policy with the American Fuel &amp; Petrochemical Manufacturers. That was the reason to announce that it will quit this organization in 2020.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is obvious that Shell wants to show investors it is on the same page with them concerning the 2015 Paris climate agreement&#8217;s goals. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The point of the Paris agreement is to reign in global warming. With that in their minds, supporters aim to do that by lowering carbon emissions to zero by the end of this century.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Maybe this is a showcase of how investors influence on oil companies. Especially, when it comes to the climate. <\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"It_looks_like_no_one_will_fool_around_with_European_investors\"><\/span><span style=\"font-weight: 400;\">It looks like no one will fool around with <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/05\/modern-german-investors\/\">European investors<\/a>.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Shell&#8217;s chief executive officer, Ben van Beurden, took out a more radical position than the boards of other influential oil companies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe need for urgent action in response to <a href=\"https:\/\/traders-paradise.com\/magazine\/2018\/10\/the-business-of-tackling-climate-change\/\">climate change<\/a> has become ever more obvious since the signing of the Paris Agreement in 2015. As a result, society\u2019s expectations in this area have changed, and Shell\u2019s views have also evolved,\u201d van Beurden said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Royal Dutch Shell plc with its headquarter in Hague, Netherlands,\u00a0has differed from AFPM on a number of issues. Shell said it also opposed AFPM&#8217;s opposition to pricing on carbon and low-carbon technologies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Shell and AFPM have also been at odds about the regulation of renewable fuels. <\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Shell_and_some_other_big_refiners_in_recent_years_have_heavily_invested_in_new_the_cleaner_fuel_technology\"><\/span><span style=\"font-weight: 400;\">Shell and some other big refiners in recent years have heavily invested in new, the cleaner, fuel technology.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Shell and AFPM are also in disagreement over regulating the use of renewable fuels. AFPM lobbied against standards requiring refineries to blend and government subsidy for the blending of biofuels into the petrol pool. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">AFPM claimed &#8211; it hurts independent refineries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To be clear, it is a conservative political group.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AFPM Chief Executive Chet Thompson thanked Shell for its long-standing collaboration. &#8220;We will also continue working on behalf of the refining and petrochemical industries to advance policies that ensure reliable and affordable access to fuels and petrochemicals while being responsible stewards of the environment,&#8221; Thompson said in a comment. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Shell&#8217;s review was greeted by Adam Matthews, director of ethics and engagement for the Church of England Pensions Board, which invests in Shell.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;This is an industry first,&#8221; Matthews said. &#8220;With this review Shell have set the benchmark for best practice on corporate climate lobbying not just within oil and gas but across all industries. The challenge now is for others to follow suit.&#8221;<\/span><\/p>\n<p><strong>Don&#8217;t waste your money!<\/strong><br \/>\n<b><\/b><\/p>\n<p><a href=\"https:\/\/traders-paradise.com\/magazine\/2018\/07\/money-risk-trading\"><b>risk disclosure<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2 min read Shell or Royal Dutch Shell Plc is the first important oil and gas company to announce the plans to leave a U.S. refining lobby, AFPM. This move comes due to the difference in policies on climate change. The point is that Shell supports the goals set by the Paris Agreement on climate [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":7387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1010,1004],"tags":[],"class_list":["post-7385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-overviews","category-latest-financial-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why Shell Walks Away from the U.S. Refining Lobby?<\/title>\n<meta name=\"description\" content=\"Shell is the first important oil and gas company, left a U.S. refining lobby, AFPM, due to the difference in policies on 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