The investment arm of HSBC is ahead of its peers in backing shareholder resolutions designed to force oil majors to adjust their business in response to climate change, according to an analysis by a key activist.
Shell is set to face a tense annual general meeting that could be dominated by clashes over climate action after the oil major saw a record year of profits.
Investors including activist group Follow This filed a resolution to pressure TotalEnergies (PARIS: TTE) to vote for more ambitious emissions targets when the company holds its annual general meeting next month.
In this latest in our series on ESG investing, Mike Scott assesses the global energy outlook ahead for 2022. Although oil and gas prices are healthy, energy firms will need to stay focused on net zero and emissions targets, and keep an eye on growth areas like hydrogen and other renewable energy sources.
For Big Oil executives, it is difficult to imagine new business models beyond oil and gas. They climbed to the top of the pyramid by being the smartest guys in the room, turning hydrocarbons into petrodollars. Success is a lousy teacher: therefore, they are still determined to increase their total emissions this decade.
An activist investor whose climate resolution garnered 30% votes from Royal Dutch Shell investors says the energy giant has not fully addressed concerns over emissions.
Shell (LSE:RDSA) will increase emissions by 4.4% by 2030, according to new research from Global Climate Insights (GCI), contravening a court order to reduce by 45%.
A fresh example of the pressure mounting on oil and gas firms to speed up their transitions away from fossil fuels was served up by investors at BP’s annual general meeting today.
Energy giant BP has urged shareholders to reject a climate change resolution at its AGM in May amid claims its strategy is at odds with a key international pact.
The Dutch activist fund that has filed shareholder resolutions pressuring major oil companies in Europe to take action on climate change has set its sights on the U.S.
As people around the world gathered for the largest climate protest in history last month, the audience at an event in Stavanger was told there can’t be a “rational conversation on global warming before we’ve stopped screaming”.