92% in favour of Total climate resolution but vote signal qu

92% in favour of Total climate resolution but vote signal questioned


By Susanna Rust2021-05-28T14:41:00+01:00
More than 90% of votes were cast in favour of a Total resolution on its climate strategy at the French oil and gas major’s AGM today, although the reliability of the vote’s signalling of support has been questioned.
Just over 8% of votes were cast against Total’s climate strategy resolution, which the company this year submitted to a vote for the first time.
According to Dutch shareholder campaign group Follow This, the 92% votes in favour proved the necessity of shareholder climate resolutions.
“These advisory votes on climate strategies are hiding what investors really want,” said Mark van Baal, the group’s spokesperson. “More and more investors want the Paris Accord to be achieved and realise Big Oil has a key role to play.”

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