LONDON, March 16 (Reuters) - Shell has ruled out setting targets to cut emissions in absolute terms from customers' use of its products, the company's chair said in a report published on Thursday, saying it was against shareholder interests and would not be effective.
End-user emissions, referred to as Scope 3, account for around 95% of the energy company's greenhouse gas pollution, and some investors have urged Shell to introduce medium-term targets to reduce them in absolute terms.
"The Board has considered setting a Scope 3 absolute emissions target but has found it would be against the financial interests of our shareholders and would not help to mitigate global warming," Shell Chairman Andrew Mackenzie said in the report.
Shareholders will vote on May 23 on a resolution filed by activist group Follow This, asking Shell to set 2030 emissions reduction goals in line with the 2015 Paris U.N. accord on climate change.