Appel aux actionnaires à prendre en compte l’urgence climatique dans leurs votes lors de l’Assemblée générale de TotalEnergies

A coalition of NGOs argues that TotalEnergies' climate strategy is incompatible with the 1.5°C warming limit, citing insufficient emission reductions and continued investment in fossil fuel expansion. The signatories call on investors to vote against the company's sustainable development resolution and the renewal of specific directors' mandates, while urging a halt to new financial support until the company stops developing new oil and gas projects.

• The climate strategy of TotalEnergies is deemed incompatible with the 1.5°C goal, with absolute emission reductions between 2021 and 2030 projected at only -0.3% per year. The document claims the company will exhaust its 1.5°C-compatible carbon budget by 2035 and will have emitted a 32% surplus of greenhouse gases by 2050.
• TotalEnergies continues to expand fossil fuel production, ranking as the top hydrocarbon developer in Europe and among the top ten globally. The company plans to allocate 70% of its capital expenditure to fossil fuels, including €2.6 to €3.2 billion annually for new oil and gas projects.
• Specific projects are highlighted as controversial due to climate, environmental, and human rights impacts: EACOP/Tilenga in Uganda and Tanzania (which is estimated to emit 34 Mt of CO2 per year), Mozambique LNG, and Arctic LNG 2. The document also notes the reputational and legal risks associated with the company's activities in Russia, including a $4.1 billion provision for Arctic-LNG-2.
• The signatory NGOs call for three specific actions from shareholders: voting against resolution no. 16 regarding sustainable development and energy transition, voting against resolutions no. 6, 7, and 8 regarding the renewal of three directors' mandates, and suspending all new financial services to the company until it commits to stop developing new oil and gas fields.

APA

Reclaim Finance (2022). Appel aux actionnaires à prendre en compte l’urgence climatique dans leurs votes lors de l’Assemblée générale de TotalEnergies. https://reclaimfinance.org/site/wp-content/uploads/2022/05/Lettre-inter-ONG-aux-investisseurs-de-TotalEnergies.pdf

Chicago

Reclaim Finance. Appel aux actionnaires à prendre en compte l’urgence climatique dans leurs votes lors de l’Assemblée générale de TotalEnergies. 2022. https://reclaimfinance.org/site/wp-content/uploads/2022/05/Lettre-inter-ONG-aux-investisseurs-de-TotalEnergies.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=Appel aux actionnaires à prendre en compte l’urgence climatique dans leurs votes lors de l’Assemblée générale de TotalEnergies |date=4 May 2022 |url=https://reclaimfinance.org/site/wp-content/uploads/2022/05/Lettre-inter-ONG-aux-investisseurs-de-TotalEnergies.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinance2022appel, author = {{Reclaim Finance}}, title = {{Appel aux actionnaires à prendre en compte l’urgence climatique dans leurs votes lors de l’Assemblée générale de TotalEnergies}}, publisher = {Reclaim Finance}, year = {2022}, month = may, url = {https://reclaimfinance.org/site/wp-content/uploads/2022/05/Lettre-inter-ONG-aux-investisseurs-de-TotalEnergies.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }