Shell urged to clarify climate targets as it braces for shareholder rebellion

NBIM, one of oil group's largest investors, calls for additional disclosures' about green commitments ahead of AGM

Norway's state investment fund has urged Shell to clarify its climate targets as the oil group braces for its biggest ever green shareholder rebellion at next week's annual general meeting.

Norges Bank Investment Management (NBIM), which manages $1.6tn on behalf of the people of Norway and is one of Shell's largest investors, urged the company to give investors more information about its plans for the next decade after its new chief executive watered down climate commitments earlier this year.