Company is fighting Dutch court ruling that says it must emit 45% less CO2 by 2030 than in 2019

Shell has argued that it “lobbies for, not against, the energy transition” on the final day of its appeal against a landmark climate ruling.

The fossil fuel company is fighting the decision of a Dutch court in 2021 that forces it to pump 45% less planet-heating CO2 into the atmosphere by 2030 than it did in 2019. In court on Friday, Shell argued the ruling is ineffective, onerous and does not fit into the existing legal system.

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Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firms

Abu Dhabi’s state-owned oil company reportedly recently explored a multibillion-pound bid for BP in a sign that depressed share values in London are making even the biggest British businesses takeover targets.

Abu Dhabi National Oil Company (Adnoc) considered options including purchasing BP or acquiring a large stake before deciding it was not the right fit and abandoning preliminary discussions, according to Reuters.

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The biggest company on the market is threatening to leave. That is a different order of seriousness than seeing Flutter and CRH flee

Last July, Wael Sawan, the chief executive of Shell, told the BBC about the terrific time he had on a visit to the New York stock exchange. The welcome was “exemplary”, he enthused, and the locals even flew the Shell flag next to their own. “They [the NYSE officials] said we continue to value a company that provides us the energy we desperately need,” he continued, adding that he wouldn’t rule out moving Shell’s stock market listing to the US in time, an inflammatory suggestion given the general angst over the state of the London market.

Now he’s at it again. In remarks to Bloomberg published this week, he said Shell had “a location” – meaning London – “that clearly seems to be undervalued”. His beef is the perceived undervaluation of Shell’s shares versus those of New York-listed rivals Chevron and ExxonMobil. If the valuation gap doesn’t close, “we have to look at all options. All options,” he emphasised .

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Ben van Beurden says firm is undervalued in UK and US investors are ‘more positive’ about fossil fuels

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Shell’s former chief executive has stoked fears that the oil company will quit the London Stock Exchange in favour of a New York listing because US investors are “more positive” about fossil fuels.

Ben van Beurden used his first public interview since stepping down as Shell’s boss in 2021 to echo concerns that the £180bn company is “massively undervalued” by the UK market compared with its US listed rivals.

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Live, rolling coverage of business, economics and financial markets as UK government imposes charges of £29 per type of item for imports of cheeses, meats and yoghurt

There is relatively little movement on Europe’s main stock markets in the opening minutes of trading.

Here are the opening snaps from Reuters:

EUROPE’S STOXX 600 FLAT

BRITAIN’S FTSE 100 UP 0.1%

FRANCE’S CAC 40 FLAT, SPAIN’S IBEX UP 0.3%

EURO STOXX INDEX FLAT; EURO ZONE BLUE CHIPS FLAT

GERMANY’S DAX DOWN 0.1%

This is an extremely disappointing decision by Defra on the common usage charge. The level of import charges shows scant regard to the interests of both businesses and consumers.

A flat rate fee for bringing most animal and plant products into the UK is a hammer blow for small- and medium-sized importers. It’s also deeply concerning for retailers, cafes and restaurants.

Ultimately, this will increase business costs and food prices and potentially lower choices for the shopper.

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Analysis reveals many big producers increased output of fossil fuels and related emissions in seven years after Paris climate deal

A mere 57 oil, gas, coal and cement producers are directly linked to 80% of the world’s greenhouse gas emissions since the 2016 Paris climate agreement, a study has shown.

This powerful cohort of state-controlled corporations and shareholder-owned multinationals are the leading drivers of the climate crisis, according to the Carbon Majors Database , which is compiled by world-renowned researchers.

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Investigation reveals project oil giant promoted may never leave drawing board and has received no licence or government support

Motorists concerned about the impact on the planet of petrol and diesel cars may be comforted by Esso’s marketing campaign on “thoughtful driving”.

One of its most eye-catching initiatives is a proposal to trap carbon dioxide at a vast oil refinery and petrochemical complex on the south coast and store it under the seabed of the English Channel.

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Campaigners say activities leading to severe environmental harm usually also violate human rights

The international criminal court (ICC) has been urged to start investigating and prosecuting individuals who harm the environment.

Academics, lawyers and campaigners from around the world have sent expert opinions to the court outlining what they call its current regime of “impunity” for serious environmental crimes.

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Live, rolling coverage of business, economics and financial markets as weak housing markets hit home improvement spending at Kingfisher

It is a fairly quiet open on European stock markets on Monday morning.

On the FTSE 100 Kingfisher is one of the bigger fallers, but even so it is only down by 0.6%.

EUROPE’S STOXX 600 FLAT

BRITAIN’S FTSE 100 FLAT

FRANCE’S CAC 40 FLAT, SPAIN’S IBEX DIPS 0.2%

EURO STOXX INDEX AND EURO ZONE BLUE CHIPS FLAT

GERMANY’S DAX UP 0.1%

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