Royal Dutch Shell (LON:RDSa) is trading down 3.39% at 37.08
Royal Dutch Shell (LON:RDSa) on Tuesday confirmed it will appeal a Dutch court ruling ordering the energy company to accelerate its carbon emission reduction target.
Shell had previously said it will appeal the May 26 ruling ordering it to reduce greenhouse gas emissions by 45% by 2030 from 2019 levels, significantly faster than its current plans.
The Anglo-Dutch company also said it will seek to ramp up its energy transition strategy in the wake of the ruling.
“We agree urgent action is needed and we will accelerate our transition to net zero,” said Shell Chief Executive Ben van Beurden said in a statement on Tuesday.
“But we will appeal because a court judgment, against a single company, is not effective. What is needed are clear, ambitious policies that will drive fundamental change across the whole energy system.”
On technical fronts Royal Dutch Shell (LON:RDSa) RSI stood at 30.95 and currently stock is trading below all Moving Average. So, SELL position can be taken with following target and stoploss:
TRADE SIGNAL – : Royal Dutch Shell (LON:RDSa) – SELL: 37.08, TARGET: 34.59, STOP LOSS : 42.24