![]() ![]() Shell reported an annual profit of $40 billion (£32bn) last year, the biggest in its 116-year history. The Church’s retirement fund accused Mr Sawan of downplaying the importance of renewables and prioritising short-term profits since he took over as chief executive in January. Mr Matthews said: “We have lost confidence in the direction of the company.” Writing in the Telegraph, Adam Matthews, chief responsible investment officer for the Church of England Pension Board, said it was “with genuine regret” that he was preparing to vote against Mr Sawan and Sir Andrew but claimed closed door talks on climate issues had ground to a halt. The pension board, which manages the clergy’s £3bn retirement pot, is concerned that London-listed Shell has rowed back on promises to switch to clean power after the Ukraine war sent oil and gas prices soaring. ![]() It comes amid claims that the oil and gas giant has backtracked on net zero commitments. The clergy’s Pension Board is preparing to vote to oust Wael Sawan and chairman Sir Andrew Mackenzie at Shell’s upcoming shareholder meeting later this month. ![]() The Church of England is pushing to oust the chief executive of Shell following a row over green investments. ![]()
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