2023-05-26 14:26:42
TotalEnergies’ annual general meeting of shareholders approved the group’s climate strategy by a large majority, under strong pressure from environmental organizations and the French government to accelerate its energy transition and get out of fossil fuels.
Environmental activists, who had promised to block the event, were unable to carry out their project, kept away from the room by tear gas launched by the police.
The shareholders adopted 88.76% of the group’s climate strategy, which provides for more investment in renewables and the strengthening of the objectives of reducing CO2 emissions from its operations.
Another consultative resolution, emanating from the activist shareholder organization Follow This, and rejected by the group, was rejected, still winning 30.4% of the votes. It asked TotalEnergies to align its emission reduction targets with the 2015 Paris Agreement, to limit global warming to +1.5°C compared to the pre-industrial era. “As long as investors allow oil companies to cause a climate meltdown by voting once morest aligning with the Paris agreement, the oil majors will cling to their fossil business model for as long as possible.“, had previously declared Tarek Bouhouch, for Follow This.
The CEO of TotalEnergies justified himself at length in terms of his group, one of the five major world majors along with BP, Shell, ExxonMobil and Chevron. “The demand for oil worldwide is growing and if it is not TotalEnergies that meets this demand, others will do it in our place.“, he said.
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