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

Roger Marshall wins Republican Senate nomination in Kansas primary

Rep. Roger Marshall. Photo: Mark Reinstein/Corbis via Getty Images

Rep. Roger Marshall won the Kansas Republican Senate primary on Tuesday evening, beating former Secretary of State Kris Kobach and a slew of other candidates, AP reports.

Why it matters: Following GOP Sen. Pat Roberts' retirement announcement, some Republicans worry that if Kobach won the primary it would endanger the party's chances of keeping the seat and maintaining a majority in the Senate.

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Primary races to watch in Arizona, Kansas, Michigan, Missouri, Washington

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Primary elections on Tuesday in fives states see crowded fields of both Republicans and Democrats hoping to make the ballot in 2020.

What to watch: Rep. Rashida Tlaib (D-Mich.) is "fighting for her political life" in a tight primary race against Detroit City Council President Brenda Jones, who Tlaib beat by 900 votes in 2018, The New York Times writes. Senate Republicans are also watching the primary race in Kansas to see who could replace retiring Republican Sen. Pat Roberts.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 18,448,084 — Total deaths: 698,023 — Total recoveries — 11,048,174Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 4,765,170 — Total deaths: 156,668 — Total recoveries: 1,528,979 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.