{"id":3453,"date":"2020-05-20T21:11:26","date_gmt":"2020-05-20T19:11:26","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?page_id=3453"},"modified":"2022-09-27T15:39:30","modified_gmt":"2022-09-27T13:39:30","slug":"stopping-total-in-its-expansion","status":"publish","type":"page","link":"https:\/\/reclaimfinance.org\/site\/en\/stopping-total-in-its-expansion\/","title":{"rendered":"Stopping Total in its expansion"},"content":{"rendered":"

<\/div>
<\/div>
<\/div>
<\/div><\/div><\/div>
<\/div><\/div><\/span>

STOPPING TOTAL’S
\nEXPANSION STRATEGY<\/p><\/h1><\/span>

<\/div><\/div><\/div>
<\/div><\/div><\/div>
<\/div>
<\/div>
<\/div>
<\/div><\/div><\/div><\/div><\/div>
<\/div>
<\/div>
<\/div>
<\/div><\/div><\/div>

On May 29th, 2020, 16.8% of Total’s shareholders voted for the first climate resolution ever filed in France, thereby giving a wake-up call to shareholders on their responsibility to push the fossil fuel company to enact a thorough transformation of its activities. The extremely strong abstention<\/u><\/a> rate among shareholders, with just 11.12% of those eligible to vote doing so, reinforces the disavowal of the climate strategy adopted by the French oil and gas major in early May 2020.<\/b><\/span><\/p>\n

A year later, Total has not adopted new decarbonation targets. Reclaim Finance and Greenpeace France have screened the major’s climate commitments and published <\/span>their analysis in a new report entitled \u00ab\u00a0<\/span><\/span>Pipeline of pollution: Total responsible, finance complicit?<\/a><\/u><\/b><\/span>\u00ab\u00a0<\/span>. The verdict is unambiguous: Total’s ambition of carbon neutrality is a smokescreen to maintain confusion and hide Total’s expansion in t<\/span>he fossil fuel sector for as long as possible. As a result, <\/span>shareholders will once again have to choose between acting in line with their climate commitments or supporting Total in an unwavering manner, even if it means leading us all towards climate catastrophe.<\/b><\/span><\/p>\n

Reclaim Finance calls on them to table a new climate resolution requiring Total to adopt a real decarbonation plan for its activities and to condition their financial support to Total’s end of the development of new fossil energy projects, starting with the EACOP project in East Africa, and those in unconventional oil and gas.<\/b><\/span><\/p>\n<\/div>