Litigation Finance Journal recently reported on Shell PLC’s board of directors who are accused of allegedly manipulating ESG frameworks at the expense of shareholder interest. New York-based Third Point LLC recently announced a significant investment into Shell, underscoring intentions to profit from a corporate restructuring of the multinational energy conglomerate. Third Point says Shell’s relocation to the United Kingdom provides significant leverage for ROI, given the board of directors’ alleged ESG misgivings.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
Litigation Finance Journal recently reported on Shell PLC’s board of directors who are accused of allegedly manipulating ESG frameworks at the expense of shareholder interest. New York-based Third Point LLC recently announced a significant investment into Shell, underscoring intentions to profit from a corporate restructuring of the multinational energy conglomerate. Third Point says Shell’s relocation to the United Kingdom provides significant leverage for ROI, given the board of directors’ alleged ESG misgivings.
Third Point’s Q1-22 shareholder letter outlines the firm’s pragmatic approach to increasing its investment in Shell, despite the board’s ESG track record. Third Point suggests that conversations with Shell’s board echo shareholder dismay from poor ESG planning. However, Third Point plans to help guide Shell’s shareholders to a bright future under various restructuring scenarios.
Third Point suggests that European energy efficiencies are a valuable long-term investment in a wartime scenario. Third Point’s Q1-22 letter discusses lessons learned by Shell, and how ESG’s future will include copper and nickel stewardship to drive the future of EV innovation.
