Energy giant Shell is using a new tactic for cutting carbon emissions.
Royal Dutch Shell announced Monday that it will base executive pay on how well emissions targets are hit.
In a joint statement with a group of investors interested in climate initiatives, Shell says those carbon reduction goals will be set annually starting in 2020, covering periods of three to five years until 2050.
Shell wants to reduce its carbon footprint by about 20 percent by 2030, and around 50 percent by 2050.
Shareholders will still have to vote on the changes to executive pay structure. That vote will happen in 2020.
Additional reporting from Newsy affiliate CNN.