A subsidiary is a business owned by a ‘parent company’, but ultimately acting as a separate entity. Sometimes, subsidiaries are referred to as ‘daughter companies’. The parent company has a whole or majority ownership stake.
In May 2021, Royal Dutch Shell lost a landmark court case which ruled that the energy giant must bring its emissions in line with the Paris Agreement. Shell had already planned to become net-zero business by 2050, but the ruling means they must slash emissions faster and harder.