CNBC | Dutch group Follow This on Wednesday launched a newly revised strategy to take on Big Oil at the upcoming proxy season, seeking to increase shareholder pressure on the financial sustainability of fossil fuel business models.
The prominent climate activist group, which paused filing shareholder resolutions last year due to a lack of investor appetite, said it will change tack to focus on the financial risks associated with declining oil and gas demand — rather than requesting emission reduction targets.
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The resolutions request that both London-listed companies disclose strategies for creating shareholder value under scenarios of falling oil and gas demand, including under the International Energy Agency’s Stated Policies Scenario (STEPS) and Announced Pledges Scenario (APS).
