Press release
Paris, 19th april 2022 – This morning, Ircantec, a pension fund for French public employees, has announced that it divested from 12 companies active in the oil and gas sector, including the French major TotalEnergies. This decision is the logic outcome of Ircantec’s ambitious engagement towards TotalEnergies in order to push the company to stop oil & gas expansion. With this courageous decision, Ircantec proves that it is serious about implementing its ambitious oil and gas policy. It contrasts sharply with the inaction of most financial actors, who refuse to exclude oil and gas developers but who also fail to engage them credibly to push them to do more to face the climate emergency. As an example, two climate resolutions have been filed by shareholders ahead of TotalEnergies’ next AGM, however, the largest French investors appear not to be among the signatories.
Read our full analysis (in French) here.