The last general meeting of TotalEnergies was marked by the opposition of certain shareholders to the group’s climate strategy.
Patrick Pouyanné, CEO of TotalEnergie, in Doha on March 26, 2022. (AFP / KARIM JAAFAR)
The CEO of TotalEnergies Patrick Pouyanné denounced, Tuesday, May 31, “a Tartuffe side” and the “marketing” of certain institutional shareholders who have recently
voted once morest the oil and gas giant’s climate strategy
during an eventful general assembly.
“I don’t mind that we give a lot of noise to
some French institutions who are not happy
but who keep their shares, even who increase them”, he declared in an interview on BFM Business recorded Monday and broadcast Tuesday. “There is a Tartuffe side in this affair”, judged Patrick Pouyanné, a little less a week following a general meeting of shareholders under high tension.
Minority Opposition to Climate Strategy
The meeting began on Wednesday with shareholders blocked outside by demonstrators and ultimately resulted in a large vote (89%) in favor of the group’s climate strategy, despite
opposition from a minority of investors
(insurance from Crédit Mutuel, Edmond de Rothschild, La Financière de l’Échiquier, the Dutch fund MN, etc.).
Chart showing the proportion and country of origin of gas imported by the European Union (AFP/)
Patrick Pouyanné mocked shareholders “who do a little marketing on our backs, from TotalEnergies, which makes me a little angry”. “They are probably more driven by the marketing of their actions than by the climate emergency,” he said. “We give them a lot of weight but what I observe is that
at the end 89% of shareholders supported our plan
“, continued Patrick Pouyanné, ensuring however to listen to “all the criticisms”.
A closed session
“I condemn all the violence that has taken place in both directions,” he also added regarding the sometimes tense exchanges between blocked shareholders and demonstrators at the entrance to the GA last Wednesday.
The session was finally held behind closed doors and online
.
Patrick Pouyanné also predicted “a great announcement from TotalEnergies in hydrogen”, “in the coming weeks”. “When TotalEnergies does something, it’s not small,” he stressed.
