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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 from its own oil and gas production to 20-30% by 2030 (from 35-40%) (slide 26); BP also...

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 politicians. Only large-scale investments in renewables will limit loss and damage. For the 27th...

Shell dismisses opportunity to invest windfall profits in renewables 

PRESS RELEASE Response Follow This to Shell’s third quarter profits and investments  Shell’s third quarter results published today show another quarter of windfall profits of $9.5 billion (p.1) due to the high oil prices - a byproduct of the Ukraine war.  “The current...

Volunteering Vacancies

Social Media Content Creator (For the B2B sales consultant vacancy, please see below) Follow This is looking for a volunteer interested in creating social media content for our followers. Once you gain an understanding of the communications of our organization, you...

Follow This ledenvergadering 2022

Op donderdag 7 juli houden we onze jaarlijkse ledenvergadering. We blikken dan graag met je terug op het afgelopen seizoen en kijken vooruit naar 2023. Hier vind je een overzicht van de stemresultaten van de afgelopen negen aandeelhoudersvergaderingen. Je kunt de...

Follow This Members Meeting 2022

On Thursday, July 7 20:00 CET we will hold our annual Members Meeting where we will review this year’s season and look ahead to 2023. You can attend the meeting virtually through Microsoft Teams or in person at our office in Amsterdam. To attend the meeting in person,...

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 ExxonMobil and Chevron have both set goals of reaching net-zero operational emissions by 2050,...

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 3 emissions generated from the fuels it sells. Shell’s targets are for a reduction in the carbon...

Minder steun voor vergroening onder beleggers Shell

NRC - Ruim 20 procent van de aandeelhouders wil dat Shell duurzamer wordt. Dat was vorig jaar nog ruim 30 procent. De lagere steun voor Follow This, dat al zes jaar een resolutie bij de aandeelhoudersvergadering van Shell inbrengt, kan te maken hebben met de...

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. "Investors have given in to Shell’s narrative that the crisis created by the war in Ukraine overrides the climate...

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 fossil fuel firms reap record profits following Russia's invasion of Ukraine. But the fight is far from...

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 outcome came to our dismay, especially after large proxy voting advisors ISS and Glass Lewis...

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 Symposium below. Speakers: Lars Dijkstra of Van Lanschot Kempen Mary Minette of Mercy Investments...

Oliebedrijven willen in 2050 schoon zijn. Maar hoe zit het in 2030?

NRC | Veel oliemaatschappijen zeggen in 2050 per saldo geen schadelijke stoffen meer uit te zullen stoten. Maar wat is die toezegging waard, wil de belegger weten, als de huidige emissies niet snel afnemen? De mening van kritische beleggers wint aan gewicht. Vanaf...

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 supports Paris-alignment: Shell rejects climate resolution amidst increasing investor pressure...

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 vergadering van aandeelhouders op 24 mei. Klimaatactivist Follow This dringt in voorstel voor die...

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 Resolutions at Big Oil that need your votes in April and May. CA100+ benchmark: not a single...

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 Agreement, concludes CA100+, the world’s largest alliance of investors, in their Net Zero Company...

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 reduction by 2030 and therefore falls short of Paris-alignment, concludes in-depth research by Global...

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 — which has some targets — is not Paris consistent. I hope the investors realise that these...

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 climate activist group Follow This. The votes will test shareholder willingness to impose new air...

ExxonMobil’s new net zero goal ignores the elephant in the room

On January 18th, ExxonMobil announced its ambition for net zero emissions for operations (Scope 1 and 2) by 2050. In May, the Follow This climate resolution - requesting Paris-consistent reductions of all emissions (Scope 1, 2, and 3) - will come to vote at the AGM of...

Can activist investors really make a difference?

If you care about saving the planet, one campaigner argues it's time to buy a stake in big oil firms. Activist group Follow This is encouraging investors to buy shares in BP and Shell It wants to empower investors to influence Big Oil companies from within We spoke to...

Want To Stop Climate Change? Buy Big Oil Stock

Forbes | In an age in which stock trading is no longer reserved to Wall-Street and a climate crisis is becoming a reality, sustainability-driven shareholder activism was bound to happen. And we see it happening, with increasing impact—especially in Big Oil,...

The climate victories of 2021 that put fossil fuels in check

From local activism to shareholder rebellions, here’s what climate advocates accomplished over the last year. The shareholder rebellions Activist investors leveraged their collective power to force major oil companies to change from within. Chevron faced opposition...

Oil majors under pressure as activists circle

Financial Times | For decades campaigners have picketed oil and gas offices, blockaded refineries and disrupted operations. Now the energy sector is facing a new kind of activism: from its own shareholders. Environmental shareholder group Follow This is also opposed...

Will Shell’s total emissions be down by 45% in 2030?

Will Shell’s total emissions be down by 45% in 2030? No - to the contrary: according to research by Global Climate Insights, Shell’s absolute emissions will increase by 4% by 2030. At Shell’s shareholders’ meeting on December 10, Shell chairman Sir Andrew McKenzie...

Follow This dient klimaatresoluties in bij Amerikaanse oliebedrijven

Exxon Mobil is één van de acht grote gas- en oliebedrijven die in 2022 een klimaatresolutie van Follow This op de aandeelhoudersvergadering kan verwachten. Exxon Mobil is één van de acht grote gas- en oliebedrijven die in 2022 een klimaatresolutie van Follow This op...

Follow This targets Exxon with shareholder climate resolution

Reuters | Climate activist group Follow This targeted Exxon Mobil Corp with a shareholder resolution urging it to deepen its carbon emissions reduction targets, ramping up pressure on the oil and gas company over its energy transition strategy. The shareholder...

Investor briefing

2021 was a watershed year for climate votes at Big Oil; investors must escalate pressure in 2022 to reach the Paris Accord What a year. In May, an unprecedented number of shareholders voted in favour of the Follow This Climate Resolutions: in Europe, votes more than...

Shell investors back moving HQ from Netherlands to UK

Financial Times | Royal Dutch Shell shareholders have overwhelmingly backed sweeping changes to the company’s share structure and tax residence, paving the way for the board to shift the Anglo-Dutch energy major’s headquarters from the Netherlands to the UK in 2022....

Shell walks ‘tightrope’ of demands amid climate pressures

Associated Press | Royal Dutch Shell on Friday received approval from shareholders to simplify its archaic corporate structure, which grew out of the merger more than a century ago of a British firm that once traded in exotic seashells and an oil company in the...

Follow This gaat ook bij Exxonmobil klimaatresoluties indienen

Telegraaf | De milieu-activistische aandeelhouder Follow This wil voor het eerst ook klimaatresoluties gaan indienen bij het grote Amerikaanse olie- en gasconcern ExxonMobil. Dat deed de groep eerder al bij branchegenoten zoals Shell, BP en Chevron. Follow This wil in...

BP and Shell ignore UK corporate governance code

PRESS RELEASE BP and Shell fail to report “actions taken” after shareholder rebellion on product emissions (Scope 3) Code requires companies to report on “actions taken” within six months after more than 20% voted against management at AGMs BP in breach of UK...

Toch geen toenadering bij Shell tot ‘klimaatbeleggers’

  Een half jaar durend onderzoek van Shell naar de klimaatwensen van de aandeelhouder heeft het concern niet dichter bij de activistische beleggingsgroep Follow This gebracht. Die conclusie valt te trekken uit een recentelijk gepubliceerd verslag van het olie- en...

Shell’s New Emission Targets Fall Short, Activist Investor Says

Dutch group Follow This brought a motion at Shell’s annual general meeting this year urging it to set targets for Scope 1, 2 and 3 emissions -- those produced by the company’s own operations and by the use of its products by customers -- are compliant with the goals...

Shell seeking to move headquarters to the UK is no surprise

Response of Follow This Shell wants to move over to one kind of share on the London stock market. This is no surprise; Shell has already wanted a simpler structure with only one kind of share since Shell had to deal with the reserves scandal of 2004. Shell...

Cash machines pompen nu olie op

De winst van olie- en gasindustrie is substantieel gestegen, maar bekendmakingen op het gebied van verduurzaming blijven bij de fraaie kwartaalcijfers uit. Dat valt extra op nu alle ogen op Glasgow zijn gericht. Mark van Baal van de activistische beleggersgroep Follow...

Beleggen in fossiel: moeten we bijsturen of uitstappen?

Financieele Dagblad | Deze week maakte pensioenfonds ABP bekend te stoppen met beleggen in producenten van fossiele brandstoffen. Dit vanwege de klimaatcrisis. ‘Symboolpolitiek’, reageert Shell-topman Ben van Beurden. Heeft hij gelijk, of moeten meerdere...

’Groene stap pensioenfonds ABP is een groot mysterie’

Telegraaf - Een van de grootste pensioenfondsen ter wereld stopt met investeren in olie en gas. Wie denkt dat het klimaat daarmee is geholpen komt bedrogen uit, zegt Martin Visser in de podcast Kwestie van Centen. Ook Mark van Baal, voorman van beleggerscollectief...

Activist fund Third Point calls for break-up of Shell

Financial Times | Royal Dutch Shell is under pressure to break itself up after the activist hedge fund Third Point built a large stake and accused the oil supermajor of being bogged down by an incoherent strategy. Mark van Baal, head of Follow This, an activist...

Pensioenfonds ABP stopt met fossiele brandstoffen

Radio 1 | Pensioenfonds ABP, dat het geld van onder meer ambtenaren beheert, gaat niet langer beleggen in fossiele bedrijven. Op dit moment gaat het nog om zo'n 15 miljard euro, 3 procent van al het belegde geld, dat uiterlijk in 2023 niet langer wordt gestoken in...

Shell gaat eigen uitstootdoelen niet halen

BNR Radio | Het gaat Shell niet lukken om zijn eigen uitstootdoelen te halen. De uitstoot blijft tot 2030 toenemen, terwijl er dan juist 45% minder uitstoot had moeten zijn ten opzichte van 2019. Dat blijkt uit een nieuw klimaatrapport van onderszoeksbureau Global...

How to reform the oil industry from within

Mark van Baal, founder of Follow This, explains in an interview with American magazine Mother Jones why oil companies have to change - and how shareholders can play a crucial role in that process. "Investors have to step up. The only way these companies are going to...

Mark van Baal: Vasthoudend vechten voor het klimaat

”Red de wereld, koop Shell”, met die slogan gaat Mark van Baal in 2015 de zeepkist op. De 51-jarige Amsterdammer trekt de stoute schoenen aan en start een burgerbeweging: aandeelhoudersvereniging Follow This. Volgens Van Baal heeft Shell de „billions and brains”, het...

TotalEnergies leaves the Paris Accord to be met by others

Green shareholders response to TotalEnergies’ Investor Day TotalEnergies’ emission reduction targets for 2030* fall short of Paris-alignment. It is not up to TotalEnergies to reduce emissions to levels needed for a 1.5-degree pathway, but up to governments and...