TotalEnergies Won't Put Shareholders' Climate Resolution to AGM, But Makes New Commitments
28 April 2022 - 4:43PM
Dow Jones News
By Giulia Petroni
TotalEnergies SE's board of directors has decided not to include
a proposed climate resolution in the agenda of the next annual
shareholders' meeting, but said it has made new commitments to cut
carbon emissions.
The French oil-and-gas major said late Wednesday that the
resolution presented by a group of 11 shareholders "contravenes
French legal rules setting the prerogatives of the Company's
governance bodies."
Shareholders requested the company align its activities with the
goals of the Paris Agreement and set reduction targets of direct or
indirect greenhouse gas emissions, detailing the means to achieve
them, TotalEnergies said.
The company said it has made new commitments ahead of its
shareholders' meeting, including reduction targets for Scope 1, 2
and 3 emissions--those under its operational control and those
linked to the use of its products--in the short and medium terms,
covering all activities.
These include the evolution of the energy mix and targeted
production volumes, detailed investment plans, the potential
contribution of captured GHG emissions to achieving reduction
targets, and assessing the relevance of these targets in regards to
the implementation of the Paris Agreement.
The new commitments will be detailed in the company's
sustainability and climate report, TotalEnergies said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
April 28, 2022 02:28 ET (06:28 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
TotalEnergies (EU:TTE)
Historical Stock Chart
From Apr 2024 to May 2024
TotalEnergies (EU:TTE)
Historical Stock Chart
From May 2023 to May 2024