Equinor to ask shareholders to vote on transition path
Apr 19, 2021 1:30:pm
Summary
by: Joseph Murphy
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Equinor to ask shareholders to vote on transition path
Norway s Equinor has said it will submit its energy transition plan for an advisory shareholder vote at its annual general meeting every three years beginning in 2022.
Equinor noted it was among the first companies in the oil and gas industry to introduce such a measure. The company announced last November its ambition to produce net-zero greenhouse gas emissions by 2050, by expanding its renewable energy capacity to 12-16 GW by 2035 and by investing in hydrogen and carbon, capture and storage.
Equinor has also announced its withdrawal from the Bakken shale, after sustaining billions of dollars of losses from its US investments over the years.