London (CNN Business) A Dutch court has ruled that Royal Dutch Shell must dramatically reduce its carbon emissions in a landmark climate decision that could have far reaching consequences for oil companies . The Anglo-Dutch company announced plans in September to become a net zero emissions company by 2050, a target that includes emissions from its products. The court found that Shell's carbon emissions pose a "very serious threat" to Dutch residents, and that the company has an "individual responsibility" to reduce emissions. We will continue to focus on these efforts and fully expect to appeal today's disappointing court decision," a Shell spokesperson said in a statement. Oil companies are facing mounting pressure from shareholders and activists to ditch fossil fuels and invest into cleaner energy sources.

Source: CNN May 26, 2021 13:55 UTC