The most common and most likely answer to this crossword clue is the 8 letter word SHELTERS
I've seen this crossword clue in Financial Times
S
H
E
L
T
E
R
S
Buddy explains!

The straight part
We know that "Shields" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case shields = shelters.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SHELTERS mean?
SHELTERS noun- A refuge, haven or other cover or protection from something.
- An institution that provides temporary housing for homeless people, battered women etc.