The 2022 AGM season is in full swing. Crucial climate-related votes have already taken place, notably among the European oil and gas majors. Halfway through, the results are very worrying. From the declining support to shareholder climate resolutions to the massive approval of flawed climate plans, shareholder engagement does not seem to achieve any results. As stated by Sir Chris Hohn, who is at the origin of the Say on Climate initiative, “blah, blah, blah, talk, talk, talk, engage, engage, engage achieves nothing”. Reclaim Finance calls on investors to react quickly by voting against the flawed climate plans that remain to be presented by Shell and TotalEnergies next week, as well as by sanctioning companies that continue to develop new fossil fuel projects.
