Back-to-back May actions by Dutch judges and oil major shareholders focus pressure to accelerate CO2 cuts as White House orders more business and government disclosure of climate-linked financial risks.
Royal Dutch Shell has lost $5 billion so far in 2015, TransCanada Corp. is staring at a $2-billion write-off following the U.S. rejection of its Keystone XL pipeline, and Baker Hughes said it took a 43% hit to earnings compared to last year, a measurement almost identical to the decline of North American oil-rig drilling over the same time.
