Décryptage pré-AG & Réaction post-AG

Reclaim Finance criticizes ENGIE's transition plan, noting that its coal exit is largely achieved through selling assets rather than closing them, and that the company is increasingly dependent on fossil gas. The briefing warns that ENGIE's reliance on hypothetical future technologies like green hydrogen and its continued gas expansion in several countries are incompatible with a 1.5°C warming limit, calling for investor action at the company's General Meeting.

• ENGIE's strategy for exiting coal has relied heavily on selling assets to other actors rather than closing them, which transfers emissions instead of reducing them. Since the COP21, the company sold 15 plants, accounting for 58% (12.1 GW) of its total coal capacity reduction, bringing its portfolio down from 20.9 GW in 2015 to 2.9 GW currently.
• Of the 2.9 GW of remaining coal capacity, more than half are slated for sale or conversion to gas or biomass rather than closure. Out of eight remaining plants, only three are planned for closure, while three others will be converted (two to biomass and one to fossil gas), and two have no specified exit date.
• ENGIE is heavily dependent on fossil gas, which makes up 50% of its total electricity production capacity, the highest among European energy companies. Despite scientific consensus that fossil fuel plants in EU/OECD countries must close by 2035 to limit warming to 1.5°C, ENGIE continues to plan gas capacity developments in Italy, Belgium, Brazil, and Australia.
• The company's goal to decarbonize gas production by 2040-2045 is deemed highly uncertain as it relies on immature technologies. Currently, biogas and biomethane represent only 1% of global gas production, and green hydrogen represents 0.5% of global hydrogen production (approximately 0.03% of global gas production).
• The 'Say on Climate' resolution proposed for the General Meeting is considered insufficient because ENGIE's underlying strategy is not aligned with a 1.5°C trajectory, instead committing only to a world 'well below 2°C'.

APA

admin (2022). Décryptage pré-AG & Réaction post-AG. Reclaim Finance. https://reclaimfinance.org/site/2022/04/14/assemblee-generale-dengie-briefing-pour-les-investisseurs-engages-pour-climat/

Chicago

admin. Décryptage pré-AG & Réaction post-AG. Reclaim Finance, 2022. https://reclaimfinance.org/site/2022/04/14/assemblee-generale-dengie-briefing-pour-les-investisseurs-engages-pour-climat/.

Wikipedia

{{cite report |last1=admin |title=Décryptage pré-AG & Réaction post-AG |publisher=Reclaim Finance |date=14 April 2022 |url=https://reclaimfinance.org/site/2022/04/14/assemblee-generale-dengie-briefing-pour-les-investisseurs-engages-pour-climat/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{admin2022dcryptage, author = {admin}, title = {{Décryptage pré-AG \& Réaction post-AG}}, institution = {Reclaim Finance}, year = {2022}, month = apr, url = {https://reclaimfinance.org/site/2022/04/14/assemblee-generale-dengie-briefing-pour-les-investisseurs-engages-pour-climat/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }