Announcements of divestments that go viral on social media have a disproportionate impact on carbon intensive firms by causing oil major shares to tank.

The world-first Client Earth Shell lawsuit will have a ‘snowball’ effect, prompting other shareholder activist groups to take similar actions, say commentators.

A group of major investors led by activist shareholder Follow This have filed climate resolutions at four Big Oil companies.

It began as the International Energy Agency (IEA) published a landmark report setting out what it will take for the world to reach net zero by 2050.