really very serious indeed because the securities and exchange commission or in the united states has a responsibility for protecting the interests of shareholders here and they can t be misled by shell or other companies about their claims of climate because that releases their material to the sustainability of people make. so this is a very serious issue indeed to. right now the sun is shining, serious issue indeed to. right now the sun is shining, these - serious issue indeed to. right now the sun is shining, these are - serious issue indeed to. right now. the sun is shining, these are record profits, neverseen the sun is shining, these are record profits, never seen before. what a lot of investors might find hard to understand is why they are not insulating their businesses from the net zero future. by becoming the leading players in renewables, why not? . , leading players in renewables, why not? ., , ., , leading players in renewables, why not? ., , ., ., not? that s really
hello, i m christian fraser. you re watching the context on bbc news. the bank of england thinks we are at or near to the peak in interest rates, and maybe that recession won t be as deep as we expected. are we on the downward side of the economic crisis? no hardship for the energy companies shell and exxonmobile record their biggest profits ever, on the back of the rising energy prices. and perhaps on the back of some of the most vulenerable, the energy regulator ofgem asks suppliers to suspend the forced installation of prepayment meters after one company was caught forcibly installing them. tonight with the context the republican political analyst and former spokesperson for the republican national committee, doug heye, and paul waugh chief political commentator for the i paper.
all that extra money back to their shareholders, which include pension funds, but i think they will come under pressure to say, why is it that you re not, you know, old moneybags here, why aren t you using some of this cash to wean us off fossil fuels and become a big player in renewables? but shell has been accused of misleading its investors over the money it says it is putting into renewable energy. a complaint has been filed with the us securities regulator by the activist group global witness. the group says said it is concerned that shell has materially misstated its financial commitment to renewable sources of energy by inflating its spending. in visual terms, think of it this way the company s total capital expendure is the big red box. 12% of that capital expenditure is funnelled into a division called renewables and energy solutions 2021, the orange box. but global witness says by its calculations shell has only spent $288 million on renewable, represented by the yel