AG de TotalEnergies : pourquoi ne faut-il pas réélire Patrick Pouyanné ?

Reclaim Finance is calling for shareholders to vote against the reelection of TotalEnergies CEO Patrick Pouyanné at the May 24, 2024 general meeting. The organization argues that the company's strategy is incompatible with the 1.5°C warming limit, noting that TotalEnergies was the sixth largest oil and gas developer globally in 2023. The document highlights a gap in investment, stating that only 33% of investments in the 2028 plan are allocated to the "electricity and new molecules" division, while 3.4 dollars were distributed to shareholders for every dollar invested in electricity in 2023. Reclaim Finance further claims that the company ignores climate-related shareholder resolutions, citing a 2023 resolution for Paris Agreement alignment that received 30.4% support but resulted in no significant action, followed by a plan to increase annual oil production by 2 to 3% by 2028.

• TotalEnergies continues to expand its oil and gas projects despite scientific recommendations to limit warming to 1.5°C, ranking as the sixth largest oil and gas developer in terms of exploration and production globally in 2023.
• The company's investment plan through 2028 allocates only 33% of investments to its "electricity and new molecules" division, which includes fossil gas activities, falling short of the IEA's recommendation that 50% of oil and gas sector investments be dedicated to clean energy by 2030.
• In 2023, TotalEnergies prioritized shareholder payouts over sustainable energy investments, distributing 3.4 dollars to shareholders for every single dollar invested in its electricity division.
• TotalEnergies has shown resistance to climate-focused shareholder engagement; after a 2023 resolution for Paris Agreement alignment received 30.4% support, the company instead announced a plan to increase annual oil production by 2 to 3% by 2028.
• The company's board refused to include a 2024 shareholder resolution requesting the separation of the roles of board chairman and CEO, a move proposed by the Forum for Responsible Investment and the Ethos Foundation to improve climate dialogue.

APA

Martin, L. (2024). AG de TotalEnergies : pourquoi ne faut-il pas réélire Patrick Pouyanné ? Reclaim Finance. https://reclaimfinance.org/site/2024/05/16/ag-de-totalenergies-pourquoi-ne-faut-il-pas-reelire-patrick-pouyanne/

Chicago

Martin, Léo. AG de TotalEnergies : pourquoi ne faut-il pas réélire Patrick Pouyanné ? Reclaim Finance, 2024. https://reclaimfinance.org/site/2024/05/16/ag-de-totalenergies-pourquoi-ne-faut-il-pas-reelire-patrick-pouyanne/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=AG de TotalEnergies : pourquoi ne faut-il pas réélire Patrick Pouyanné ? |publisher=Reclaim Finance |date=16 May 2024 |url=https://reclaimfinance.org/site/2024/05/16/ag-de-totalenergies-pourquoi-ne-faut-il-pas-reelire-patrick-pouyanne/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2024totalenergies, author = {Martin, Léo}, title = {{AG de TotalEnergies : pourquoi ne faut-il pas réélire Patrick Pouyanné ?}}, publisher = {Reclaim Finance}, year = {2024}, month = may, url = {https://reclaimfinance.org/site/2024/05/16/ag-de-totalenergies-pourquoi-ne-faut-il-pas-reelire-patrick-pouyanne/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }