Reuters — TotalEnergies’ bet on gas means no big emissions cut by 2030 French oil major TotalEnergies forecasts its overall greenhouse gas emissions will not see a big...
Ankeiler ENG
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BP advises shareholders to vote against Follow This climate resolution as pension funds increase pressure
PRESS RELEASE on BP AGM on April 27 BP advises shareholders to vote against the Follow This climate resolution (resolution 25) that requests the oil major to align its 2030...
BP insists it is not slowing green transition to cash in on high oil prices
The Financial Times — BP insists it is not slowing green transition to cash in on high oil prices The boss of BP’s US business has insisted that the company is sticking with...
BP backtracks on climate aim, increasing investments in oil and gas
Response Follow This to BP’s 2022 results and plans BP backtracked on its aim to reduce emissions: the company changed its ‘Aim 2’ to reduce the Scope 3 (product) emissions...
Shell’s Profit Soared to $42 Billion Last Year
The New York Times — Shell’s Profit Soared to $42 Billion Last Year Shell, Europe’s largest energy company, reported a bumper profit for 2022 on Thursday: $42.3 billion,...
At most 14% of Shell’s investments to renewables in 2022 despite windfall profits
PRESS RELEASE response Follow This to Shell’s 2022 results Shell’s investments (cash Capex) in the division Renewables and Energy Solutions (RES) were $3.5 billion...
Big Oil poised to smash annual profit records — sparking outcry from campaigners and activists
CNBC — “I have called 2022 the year the empire struck back,” Mark van Baal, founder of Dutch shareholder activist Follow This, told CNBC via telephone....
Leading investors join shareholder activist with climate resolutions at Big Oil
Resolutions focus on Scope 3 emissions reductions in 2030 Leading investors with assets under management of more than € 1.3 trillion* join activist shareholder Follow This...
More fossil fuels mean more loss and damage
The climate Loss and Damage Fund eclipsed tackling root causes climate crisis at COP27 in Egypt. Fossil fuels were again spared. Investors must fill the gap left open by...
Ben van Beurden, first oil major CEO to promise to cut product emissions (Scope 3), steps down
RESPONSE FOLLOW THIS Ben van Beurden will hand over the helm of Shell to Wael Sawan on January 1, the company announced today. Activist shareholder Follow This welcomes the...
Big Oil evades climate targets as investors retreat from Paris-alignment
POST AGM INVESTOR BRIEFING Dear investors in Big Oil, For investors in Big Oil, the fight against the climate crisis has lost momentum in 2022. The recently updated...
Investors reject climate proposals targeting ExxonMobil, Chevron
The Washington Post | The proposal calls on the companies to set medium- and long-term targets for aligning their emissions trajectories with the Paris agreement. While...
Shell suffers drop in investor support for climate strategy
Financial Times – Follow This, which submits the same resolution at several oil and gas companies, argues that Shell must commit to an absolute reduction in the scope...
Shareholder rebellion at Chevron and Exxon as 33% and 28% vote in favour of Paris-consistent climate targets
PRESS RELEASE One third of shareholders vote in favour of Follow This climate proposal at Chevron, despite fears that energy crisis would eclipse climate crisisSignificant...
Shareholders back Shell’s climate strategy after raucous meeting
Reuters – Shareholders backed Shell’s climate strategy while a climate activist proposal from the Follow This group received fewer votes than last year....
Shell evades climate targets as shareholders retreat from Paris-alignment
Energy crisis resulting from Ukraine war has eclipsed climate crisisInvestor support for Paris-consistent targets (resolution 21, filed by Follow This) decreases to 20%...
CA100+ lead investors at Shell call on fellow investors to vote in favour of shareholder climate resolutions
INVESTOR BRIEFING regarding climate resolutions 20 and 21 at Shell As ‘Big Oil Sees Climate Pressure Ease Off’ (Bloomberg), the new CA100+ lead investors at Shell (PGGM and...
Big Oil investors reject calls for stricter climate goals — so far
The Washington Post | Investors in three of the world’s largest oil and gas companies this week rejected proposals for the firms to set stronger climate targets, as...
BP evades climate targets as shareholders retreat from Paris-alignment
PRESS RELEASE Energy crisis has eclipsed climate crisis The fight against the climate crisis loses momentum at BP: support for Paris-consistent climate targets (resolution...
Big Oil braces for shareholder revolt over climate plans in proxy voting season
CNBC – Some of the world’s largest corporate emitters face the prospect of a shareholder rebellion this month, with climate-related votes poised to spike...
Shareholder rebellion at ConocoPhillips as 39% of shareholders vote in favour of Follow This climate proposal
Highest vote in favour of a Follow This proposal which requests emission reductions in line with the Paris Climate Agreement (in the US, in 2021 Follow This only requested...
Climate Resolutions at Big Oil in May
Please find herewith six recent developments regarding climate resolutions at Big Oil’s forthcoming AGMs: Yesterday, Valero reported that the proposal failed to pass. The...
Rewatch the Follow This Investor Symposium 2022
Should investors vote for climate action at oil majors’ annual meetings in May? Hear what our speakers think in this three-minute summary of Follow This’ 2022 Investor...
Shell rejects climate resolution amidst increasing investor pressure
PRESS RELEASE Shell calls Paris-consistent targets for 2030 “unrealistic” 9 of the 10 largest Dutch investors announced they will vote in favour of climate resolutions that...
Shell raadt aandeelhouders aan om voorstel Follow This te verwerpen
FD – Het bestuur van olieconcern Shell adviseert zijn aandeelhouders om het voorstel van activistische aandeelhouder Follow This te verwerpen bij de jaarlijkse...
Ten Climate Resolutions at Big Oil in May 2022
INVESTOR BRIEFING incl. speakers update Follow This symposium Following the latest CA100+ benchmark and IPCC report, this briefing is to bring you up to date on ten Climate...
ExxonMobil advises shareholders to vote against Scope 3 emissions reductions
PRESS RELEASE First climate proposal that requests Paris-alignment at ExxonMobil, following peers in Europe and the US. Oil major specifically rejects accountability for...
“There is no single oil major with a good plan to decrease emissions this decade”
Follow This founder Mark van Baal at Bloomberg’s Sustainable Business Summit: “We need big oil with their brains, their billions, their global reach to speed up...
No single oil major is Paris-aligned, investors’ alliance concludes
RESPONSE TO CA100+ BENCHMARK BY FOLLOW THIS Despite ‘net zero by 2050’ promises, no oil major has emissions reduction targets for 2030 in line with the Paris Climate...
BP will not reduce emissions this decade, new research shows
PRESS RELEASE – Lacking absolute emissions reduction by 2030, BP’s decarbonisation plan is not Paris-aligned. BP’s transition strategy will not deliver emissions...
Symposium 2022: How can investors support oil majors to fight the climate crisis?
The Follow This Online Symposium 2022 will bring together investors, the oil and gas industry, academics, and media to discuss how investors can support oil and gas...
Shell U-turn on Cambo oilfield would threaten green targets, say campaigners
The Guardian – Climate activists have reacted with concern to reports that Shell is reconsidering its decision to abandon development of the Cambo oilfield, warning...
Occidental loses bid to throw out green Follow This resolution
Financial Times | SEC will force oil and gas producer group to hold vote on tighter emissions targets. “It’s telling that the SEC basically states that even Occidental —...
Shareholders at four U.S. oil companies to vote on climate proposals
Reuters – Shareholders at four U.S. oil companies will vote in the coming quarter on proposals for the firms to meet emissions targets set out in Paris in 2015, said...
Shareholders asked oil giant Chevron to cut emissions. Now some want the chairman ousted
The Washington Post – A shareholder advocacy group filed papers Tuesday asking investors in the energy giant Chevron to oust the chairman and another board member...
Shell’s exit from Russia: decisive near-term action or long-term intention?
PRESS RELEASE – RESPONSE BY FOLLOW THIS Today, Shell announced [its] intent to withdraw from Russian oil and gas in a press release. “We commend Shell’s ability to...
New IPCC report shows the time for delay has come to an end; Big Oil needs to reduce emissions now
PRESS RELEASE – Follow This response to new IPCC report “The new IPCC report stresses the need for immediate, significant emission cuts; a step which Big Oil has so...
Follow This testifies in US Congress Hearing about Big Oil’s climate pledges
Follow This founder Mark van Baal testified in a US Congress Hearing on February 8 to answer questions about the climate plans of oil majors. “It was quite an experience to...
BP has ambitious plans to move beyond fossil fuels – but are they enough?
The Guardian | The oil giant revealed its four-fold increase in profits alongside pledges on investment in cleaner energy. Investors and climate activists have raised...
Shell still not reporting investments in renewable energy; around 90% in fossil fuels
– PRESS RELEASE – More than four years after Shell announced its intention to join the energy transition, Shell is still not reporting how much the company is...