Shareholders of Royal Dutch Shell (RDS.A)  today rejected a proposal by an environmental activist group demanding the oil major sets and publishes annual targets to reduce carbon emissions, Reuters reports.

About 94% of the crude oil and natural gas explorer's shareholders voted against the resolution, preliminary results displayed during the company's annual general meeting in The Hague showed.

Shell said that binding emissions reduction targets would mean "tying its hands" and weakening the company because it would be forced to reduce production and sales, according to Reuters.

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