PARIS (Reuters) – A group of French shareholders of TotalEnergies announced on Friday the withdrawal of a “climate” resolution which it planned to present to a general meeting, after new commitments made by the company in terms of transparency on the reduction of its greenhouse gas emissions.
The group of twelve investors includes La Banque Postale Asset Management, La Financière de l’Echiquier, Mandarine Gestion, Meeschaert Amilton AM, OFI AM and Sycomore AM. In particular, it asked TotalEnergies to provide more detailed information on the implementation of its strategy to combat climate change.
In a letter to the Climate Action 100 + coalition – which brings together investors collectively managing $68 trillion in assets – the group pledged to publish its absolute and relative emissions reduction targets every year in the future. greenhouse gases covering all the company’s activities (“Scope 1, 2 and 3”) in the short term (2025) and medium term (2030).
According to the document, posted on the group’s internal website on Friday, TotalEnergies will also submit a report on its climate strategy and its implementation to the advisory vote of its shareholders every year, as it will do at its next general meeting. of May 25.
The group has also undertaken to specify the evolution of its energy mix and its production volumes targeted for 2025 and 2030, as well as its short and medium-term investment plans, or even to communicate on the work assessing the relevance of its objectives with regard to the implementation of the Paris Agreement.
“Having learned of these new commitments, the group of investors welcomes the progress made, the result of a continuous and in-depth dialogue between the company and various coalitions of investors, which will have to continue”, indicate the 12 French shareholders in a press release announcing that their draft resolution is now “obsolete”.
Reacting to these announcements, TotalEnergies highlighted its “willingness to promote shareholder dialogue and transparency”.
The group, which is developing at a sustained pace in renewable energies and electricity, had already announced on March 24 new targets for reducing emissions from petroleum products sold to its customers by 2030.
Like its competitors, TotalEnergies is under increasing pressure from certain investors in the fight against climate change. Last year, its general assembly nevertheless largely validated its strategy of transition to carbon neutrality.
(Report Benjamin Mallet; edited by Sophie Louet)