Shell and other oil majors exit global climate target group over fossil fuel limits

Shell, Aker BP and Enbridge have withdrawn from a leading climate accountability initiative after refusing to commit to halting the development of new oil and gas fields, the Financial Times reported on Tuesday.

The three companies, based in the UK, Norway and Canada respectively, have stepped away from the Science Based Targets initiative (SBTi), an international body that helps firms align their emissions reduction plans with the Paris Agreement.