Recently, Mary Pieterse-Bloem, Professor of Financial Markets at Erasmus School of Economics, took part in a panel discussion of BNR Nieuwradio to talk about the consequences of the appeal proceedings between Milieudefensie and Shell. She was joined by Reinder Wietsma, Head of Investments at IBS Capital Allies.
On 12 November 2024, the Hague Court of Appeal handed down its judgment in the appeal proceedings between Milieudefensie and Shell. At issue in the appeal was whether Shell must have reduced its CO2 emissions by 45% in 2030 compared to 2019. The court of appeal ruled that Shell is obliged to reduce its CO₂ emissions, but that it was unable to determine which percentage should apply. The court of appeal therefore rejected the claims of Milieudefensie. An appeal in cassation against this ruling may be brought before the Dutch Supreme Court.
At first glance, one would think that this would greatly benefit Shell's share price. Yet a remarkable trend was observed: the impact on Shell's share price after winning the lawsuit was virtually nothing. The reason: Shell's headquarters have since moved to England, and British Shell was not really affected by the lawsuit. In any case, it will benefit the Dutch Shell, partly because of the legal certainty it now has.
- Professor
- More information
You can listen to the full episode from BNR Nieuwsradio, 12 November 2024, here.
