Shell faces calls from Eumedion to use its position

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  • 25 Apr 2019 12:00 AM
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Shell Faces Pressure on Gay Rights Over Brunei Venture

Anglo-Dutch oil giant, Shell, is facing calls from a shareholder group, Eumedion, to use its position as the joint owner of Brunei’s biggest oil and gas venture to push for gay rights in the country. Brunei has provoked global criticism and business backlash since the south-east Asian nation introduced a harsh new law making crimes including gay sex, adultery and abortion punishable by stoning to death. Shell has long been a champion of LGBT rights, having a long-standing LGBT employee support network and sponsoring gay pride events globally. Shareholders are now voicing concerns about how the laws will affect its 3,500 employees in Brunei. Eumedion, a Dutch corporate governance group backed by 60 institutional investors, will encourage Shell to use its influence with the Brunei government to press for the improvement of LGBT rights. Eumedion counts large Shell shareholders including BlackRock, Standard Life Aberdeen and Capital Group among its members.

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The Financial Times

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