AG 2024 : l’heure de sanctionner l’expansion pétro-gazière par les votes

Reclaim Finance argues that traditional shareholder engagement has failed to align the oil and gas sector with a 1.5°C trajectory, noting that 96% of these companies continue fossil fuel expansion. The organization recommends that investors suspend all new investments, particularly bonds, and integrate climate criteria into routine strategic votes. Specifically, it advises voting against the reelection of directors, executive remuneration, financial accounts, and dividends unless companies allocate 50% of capital expenditure to sustainable energy. Reclaim Finance also criticizes proxy advisors like ISS and Glass Lewis for failing to support climate resolutions.

• Current shareholder engagement practices have failed to steer the oil and gas sector toward a 1.5°C pathway, with 96% of oil and gas companies continuing to expand fossil fuel production, including majors such as Shell, BP, and TotalEnergies.
• Reclaim Finance recommends that investors stop all new investments in the sector, especially bonds, and move beyond specific climate resolutions to integrate climate concerns into routine strategic votes to block 'climaticide' strategies.
• Investors are encouraged to vote against the reelection of directors and executive pay because leadership is responsible for the strategy, and fossil fuel expansion is considered a 'red line' for the 1.5°C goal.
• The document advises voting against financial accounts and auditors because oil and gas companies fail to account for physical climate risks and transition risks, which could lead to 'stranded assets'.
• Reclaim Finance suggests voting against dividends and share buybacks unless companies invest 50% of their capital expenditure in sustainable energy, noting that the sector currently spends only 2.5% of total investment on 'clean' energy.

APA

Martin, L. (2024). AG 2024 : l’heure de sanctionner l’expansion pétro-gazière par les votes. Reclaim Finance. https://reclaimfinance.org/site/2024/04/08/ag-2024-lheure-de-sanctionner-lexpansion-petro-gaziere-par-les-votes/

Chicago

Martin, Léo. AG 2024 : l’heure de sanctionner l’expansion pétro-gazière par les votes. Reclaim Finance, 2024. https://reclaimfinance.org/site/2024/04/08/ag-2024-lheure-de-sanctionner-lexpansion-petro-gaziere-par-les-votes/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=AG 2024 : l’heure de sanctionner l’expansion pétro-gazière par les votes |publisher=Reclaim Finance |date=8 April 2024 |url=https://reclaimfinance.org/site/2024/04/08/ag-2024-lheure-de-sanctionner-lexpansion-petro-gaziere-par-les-votes/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin20242024, author = {Martin, Léo}, title = {{AG 2024 : l’heure de sanctionner l’expansion pétro-gazière par les votes}}, publisher = {Reclaim Finance}, year = {2024}, month = apr, url = {https://reclaimfinance.org/site/2024/04/08/ag-2024-lheure-de-sanctionner-lexpansion-petro-gaziere-par-les-votes/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }