Press release

Paris, may 9th 2022 – In a public letter, 13 NGOs including Reclaim Finance, urge TotalEnergies’ shareholders to vote against the company’s flawed climate plan and to sanction its oil and gas expansion strategy by voting against the re-election of incumbent Directors. While TotalEnergies is under fire for developing new oil and gas projects, such as the EACOP mega-project in East Africa, the company is trying to smother any debate at its Annual General Meeting (AGM). TotalEnergies has notably rejected a resolution filed by climate-conscious shareholders to set Paris-aligned climate targets. Among investors, a fault line is emerging between progressive actors who are taking active steps to push the company to do more on climate (filing resolutions, calling for votes against the company) and big financial institutions who remain silent and inactive for the time being, and risk giving TotalEnergies’ flawed climate plan the thumbs up once again.

Contacts :

  • Lucie Pinson, Director at Reclaim Finance, lucie@reclaimfinance.org, +33 6 79 54 37 15
  • Guillaume Pottier, Campaign Manager at Reclaim Finance, guillaume@reclaimfinance.org, +33 7 50 89 05 49