London (CNN Business) Royal Dutch Shell is giving its executives a powerful new reason to care about the environment.

The Anglo-Dutch energy firm said Monday that it will establish short-term carbon emissions targets starting in 2020 after coming under pressure from investors. In an industry first, it plans to link executive pay to hitting the targets.

Major shareholders including the Church of England and Robeco have demanded that Shell do more to tackle emissions. They say its earlier goal of cutting carbon emissions by half by 2050 did not go far enough.

Shell ( RDSA ) said in a statement that it would set carbon reduction goals that cover periods of three to five years. The targets will be set on an annual basis, and run to 2050.

The oil company did not set out specific carbon benchmarks on Monday. And it said that shareholders would not vote on changes to executive remuneration until 2020.