CAMPAIGNERS have branded Shell CEO’s multimillion pay packet a “bitter pill to swallow” after the corporation announced today it would be watering down its climate pledges.

The oil giant backtracked on its “net carbon intensity” targets — measured by the amount of emissions produced per unit of energy. 

It had previously set a goal to reduce the “intensity” of the energy it sells by 20 per cent by 2030 from 2016 levels, but now says it will aim for 15-20 per cent.