WHAT HAPPENED: In a world-first decision, a Dutch court ordered Shell Oil to reduce its greenhouse gas emissions by 45% from 2019 levels by 2030. In its ruling, the court declared Shell's current climate policies "largely amount to rather intangible, undefined, and nonbinding plans for the long term."

WHY IT MATTERS: This ruling not only marked the first time a court has decided a private company must take mandated climate action, it also specifically made clear that Shell is responsible for Scope 3 emissions - the CO2 emissions related to the use of their products, like driving a car. While this decision only applies in the Netherlands, the reverberations may be felt around the world, empowering similar lawsuits and forcing fossil fuel companies to take climate action.

 

WHAT HAPPENED: Activist investors have secured 3 seats on Exxon's powerful board. Growing dissatisfaction with Exxon's refusal to take climate action and its continued investments in fossil fuels despite dwindling profits, drove the action.

WHY IT MATTERS: These board members have been outspoken critics of Exxon's continued lack of action in the face of the climate emergency and are expected to push the fossil fuel company's investments away from oil and gas and toward clean energy.