{"id":21102,"date":"2022-05-04T18:30:14","date_gmt":"2022-05-04T16:30:14","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?p=21102"},"modified":"2023-02-08T13:51:18","modified_gmt":"2023-02-08T12:51:18","slug":"equinors-agm-shareholders-must-challenge-equinors-climate-plan","status":"publish","type":"post","link":"https:\/\/reclaimfinance.org\/site\/en\/2022\/05\/04\/equinors-agm-shareholders-must-challenge-equinors-climate-plan\/","title":{"rendered":"Equinor’s AGM: shareholders must challenge Equinor’s \u201cclimate\u201d plan"},"content":{"rendered":"

Decoding the coming AGM\u00a0 \u2193<\/strong><\/em><\/p>\n

On May 11th, Equinor\u2019s shareholders will be taking a climate test: will they vote for or against the company\u2019s Energy Transition Plan? This should be an easy one for investors who are serious about their climate commitments given that Equinor\u2019s climate plan is still far from aligned with a 1.5\u00b0C pathway (1). Despite new pledges in March, the oil major will blow up its total 1.5\u00b0C carbon budget as soon as 2037. (2) While climate scientists have made very clear that there are only 3 years left for Greenhouse Gas (GHG) emissions to peak and to avert catastrophic impacts, Equinor is delaying immediate action. CA100+ has also deemed Equinor\u2019s capital allocation misaligned with climate targets given the company is still investing in oil production and development (3). Investors who have pledged to align their portfolios with 1.5\u00b0C and are serious about their climate commitments must vote against the company\u2019s climate plan and call on the company to adopt more ambitious targets.
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Equinor\u2019s climate targets are not aligned with 1.5\u00b0C<\/h1><\/span>
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Its most recent decarbonation targets (4) are not up to the stake:<\/p>\n