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Photo: Osama Faisal/SOPA Images/LightRocket via Getty Images

Royal Dutch Shell, under pressure from activist investors, said Monday it will begin setting short-term carbon emissions goals for its products and link the targets to executive pay.

Why it matters: The yet-to-be-determined targets represent new, nearer-term pledges from Shell, which has previously laid out non-binding, long-term goals to cut net emissions in half by 2050 and by 20% by 2035.

  • The multinational energy giant released a joint statement on the plan with the shareholder group Climate Action 100+. It's the result of negotiations led by the Church of England Pensions Board and asset management firm Robeco.
  • It states that the nearer-term targets will "operationalize" the longer-term goals first announced in 2017.
  • The Financial Times first reported the new agreement late Sunday.

What's next: "Shell will set the target each year, for the following three- or five-year period. The target setting process will start from 2020 and will run to 2050," Shell said in a statement Monday.

  • Shell CEO Ben van Beurden said in a statement: “We are taking important steps towards turning our Net Carbon Footprint ambition into reality by setting shorter-term targets."

What they're saying: Andrew Logan of Ceres, a sustainable investment advocacy group, tells Axios that the move is "groundbreaking."

  • "The industry has long resisted the idea of taking responsibility for product emissions, even though they are an order of magnitude larger than operational emissions and are the source of much of the industry's climate risk," he said in an email.
  • "This announcement means that Shell is moving from ambition to firm targets," Logan added.

The intrigue: A provision deep in the agreement with Climate Action 100+ says Shell is reviewing its membership in trade associations.

  • Shell said it recognizes that it's important to ensure the memberships don't "undermine its support for the objectives of the Paris Agreement on climate change." The results of the review will be made public in the first quarter of 2019, Shell said.
  • The revised executive pay policy, meanwhile, will be submitted for shareholder approval at Shell's 2020 annual meeting.

Go deeper: Read the agreement between Shell and Climate Action 100+.

Go deeper

Updated 59 mins ago - Sports

IOC: Belarus sprinter who sought refuge in Tokyo "safe"

Krystsina Tsimanouskaya of Belarus in 2019. Photo: Ivan Romano/Getty Images

Belarusian Olympian Krystsina Tsimanouskaya, who sought refuge in Tokyo, is in the care of Japanese authorities and the UN refugee agency is now involved in her case, an International Olympic Committee official told reporters Monday.

The latest: Officials in Poland and the Czech Republic have offered to help the 24-year-old sprinter, who refused national team orders to board a flight home after being taken to Tokyo's Haneda airport Sunday following her criticism of Belarusian coaches, per Reuters

Updated 2 hours ago - Sports

Olympics dashboard

Italy's Lamont Marcell Jacobs of Team Italy crosses the finish line ahead of American Fred Kerley in the men's 100m final on day nine of the Olympic Games at Olympic Stadium in Tokyo, Japan, on Sunday. Photo: Cameron Spencer/Getty Images

🚨: IOC "looking into" American Raven Saunders' Olympic podium gesture

🏃🏾: Italy's Lamont Marcell Jacobs: Reconnecting with U.S. father "gave me the desire to win" Olympic 100m sprint race.

🥇High jumpers persuade Olympic officials to let them share gold

🏌️‍♂️: Golfer Xander Schauffele wins gold for U.S. by one shot

🤸🏿‍♀️: Simone Biles won't compete in Olympic floor finals, individual vault or uneven bars

🏳️‍⚧️: Axios at the Olympics: Games grapple with trans athletesTrans athletes see the Tokyo Games as a watershed moment

Go deeper: Full Axios coverage

Updated 2 hours ago - Sports

IOC "looking into" American Raven Saunders' Olympic podium gesture

Team USA's Raven Saunders gestures on the podium with her silver medal after competing in the women's shot put event during the Tokyo 2020 Olympic Games at the Olympic Stadium in Tokyo on Sunday. Photo: Ina Fassbender/AFP via Getty Images

The International Olympic Committee is "looking into" U.S. shot-putter Raven Saunders' gesture on the Tokyo Games podium after she won a silver medal, IOC spokesperson Mark Adams told reporters Monday.

Why it matters: Saunders told AP she placed her hands above her head in an "X" formation while on the podium to stand up for "oppressed" people. The IOC has banned protests during the Tokyo Games.

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