The Church of England’s national investing bodies have welcomed the decision by the Royal Dutch Shell Plc Board to recommend a vote in favour of a special resolution on climate change co-filed  by a group of investors including the Church’s national investing bodies ahead of Shell’s AGM in April. The resolution calls for increased disclosure of the company's strategy on climate change.

In a letter to shareholders posted on the Shell’s website JJ Traynor, Executive Vice President Investor Relations writes: “The Board has given consideration to the Resolution and has decided to recommend that shareholders support the Resolution at the AGM. Shell will provide additional reporting in 2015, in advance of full reporting in response to the Resolution in 2016, in the most appropriately updated report or website location which will include our sustainability reporting and our emissions reporting website.”

Welcoming the decision, Edward Mason, Head of Responsible Investment for the Church Commissioners said:

"The Church Commissioners are delighted by Shell's very constructive decision to recommend that its shareholders support the request for increased disclosure of the company's strategy on climate change. This shows what an important role shareholders can play in promoting business adaptation to the transition to a low carbon economy. More widely it demonstrates the benefit of corporate engagement and the constructive outcomes it can achieve."

The resolutions were submitted by the £160bn ‘Aiming for A’ Investor Coalition, which is co-ordinated by CCLA Investment Management and includes other members of the Church Investors Group (CIG).

Helen Wildsmith, Head of Ethical and Responsible Investment for CCLA, said:

"Shell's response indicates that supportive but stretching shareholder resolutions can play a positive stewardship role. They focus attention on an increasingly complex capital allocation challenge for energy companies, investors and policy makers.”