To be fair, some of the institutional investors are part of the 20% who demands answers from Shell, perhaps because their own investors require them to make more environmental friendly investments.

It's a double edged sword. They need to have stocks to have a say. Arguing from outside only gets people booted off the premises.

I still have my doubts if the tactic of changing Shell and others from the inside works in any meaningful manner. My pension company say that they're using their investments to influence the companies, but it won't change anything unless they can form a majority on the boards. 20% is impressive but apparently not enough to sway the cold dinosaurs.

Personally I have chosen for my pension funds not to be invested in fossil fuels at all. It may bring a smaller return right now, but even strictly financially considered, I really don't want my money tied to fossil fuels in light of the quantity of electric cars being sold. Those customers simply aren't coming back to the gas station. Fossil fuels are no longer a safe investment long term. They'll be fighting to stay relevant for a long time, but it's only going to get more difficult for them as time goes by.