PRESS RELEASE BP rebranded itself as Beyond Petroleum in 2000 yet nearly all investments remained tied to fossil fuels Activist investor Elliott’s recent stake in BP adds...
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Shell invests only 12% in renewables despite the imminence of peak oil
PRESS RELEASE IEA predicts oil and gas demand will decline after 2029, but Shell heavily invests in fossil fuels, risking stranded assets Shell’s investment in its...
COP29: Negotiating the non-negotiable – replacing fossil fuels with clean energy – further endangers the Paris Accord
MEDIA RESPONSE Surreal Debate about Fossil Fuels Stalls Progress Besides the intense discussions about climate finance, debates about the essential transition from fossil...
COP29: asset managers’ votes at Big Oil undermine their climate credibility in Baku
PRESS RELEASE Large investors participate in the climate conference but voted against Paris-alignment at AGMs of oil and gas companies. In addition to fossil fuel...
Court setback amplifies investor responsibility to reform Big Oil
PRESS RELEASE Court states that Shell is obliged to reduce its CO2 emissions, but could not determine a concrete percentage The Court of Appeal has overturned the landmark...
Shell lowers investments in clean energy to 8%, endangering the company’s future by ignoring the energy transition
PRESS RELEASE Oil major does not raise dividend for 3 quarters in a row and keeps it at $0.344, 73% of pre-pandemic level of $0.47 per share Shell’s investments in the...
IEA predicts peak oil and gas as oil majors double down on gas
International Energy Agency’s projections challenge the viability Big Oil’s growth strategies and highlight the urgent need for a course correction by shareholders...
Legal & General, Schröders, and Abrdn don’t want Shell to reduce emissions as HSBC urges the oil major to align with Paris
PRESS RELEASE Three of the largest UK investors voted against climate resolution at Shell, accepting Shell’s strategy of not reducing emissions Three of the four...
Judge dismisses Follow This as Exxon’s lawsuit continues against Arjuna Capital
PRESS RELEASE Shareholder democracy still under attack as Exxon can continue circumventing the SEC to seek court ruling against climate proposals The Texas District Court...
Ongoing support for climate resolution at Shell signals shareholder dissent over climate retreat
PRESS RELEASE With 19% of votes, investors urge Shell to align with Paris A similar percentage of shareholders (19%, down from 20% in 2023) has urged Shell to improve its...
Largest sovereign wealth fund, Norges Bank, will vote against Paris-alignment at Shell
PRESS RELEASE Norges Bank brings its climate credibility into question by backing Shell’s climate retreat Norges Bank Investment Management (NBIM), one of the largest...
Two largest French investors lead in climate stewardship as peers lack transparency
PRESS RELEASE Opaque voting process in France contrasts with transparency in UK, US, Norway, and Netherlands French investors lead or lack transparency, new voting analysis...
Two proxy voting advisors are stalling climate action by Big Oil
PRESS RELEASE Amsterdam, 6 May 2024, 13:30 CEST Two proxy voting advisors are stalling climate action by Big Oil Investors increasingly ignore inconsistent advice from ISS...
Leading investors urge peers to vote in favour of their climate resolution at Shell
“The only way for shareholders to compel Shell to improve its [climate] targets,” the investors write. MEDIA BRIEFING On Thursday, the day of Shell’s quarterly results,...
CA100+ lead investor at Shell to vote for Follow This climate resolution and against Shell’s strategy
PRESS RELEASE MN sets a noteworthy example for all investors, one month before Shell’s AGM Dutch investor MN will vote in favour of the Follow This climate resolution...
Shell sets out for confrontation with shareholders as it advises to vote against climate resolution of 27 investors
PRESS RELEASE Amsterdam, 17 April 2024 Shell calls Paris alignment “more harmful than helpful” Follow This: “Responsible investors will side with their peers instead of...
Most Norwegian investors prefer voting over selling Big Oil shares
PRESS RELEASE Amsterdam, 4 April 2024, 06:15 Northern approach contrasts with that of European peers Norway’s five largest investors supported nearly all climate...
Shell Backtracks on Climate Targets
PRESS RELEASE Oil major sheds its 2030 and 2035 emission reduction ambitions Shell abandons its climate targets, the oil major announces in its strategy update today; the...
Shell cuts investments in clean energy division
PRESS RELEASE Shell cuts investments in clean energy division Shell’s investments in Renewables and Energy Solutions in 2023 fell to 11%, down from 14% in 2022 Shell’s...
Record 27 institutional investors co-file climate resolution at Shell
PRESS RELEASE Investors with 4 trillion euro in assets under management join Follow This to urge Paris-aligned emissions targets Twenty-seven major investors, including...
Largest European investors back climate resolutions at Big Oil AGMs as US counterparts vote against
PRESS RELEASE: Amundi, UBS, and Allianz lead the world’s largest investors in climate stewardship, votes on climate resolutions at Big Oil reveal The three largest...
Chevron’s $53 billion bet on more fossil fuels is at odds with the Paris Climate Agreement and endangers the company
PRESS RELEASE: Response Follow This to Chevron’s 53 billion dollar purchase of oil and gas producer Hess “With this deal, Chevron is betting on the failure of the Paris...
Shell to grow its fossil fuel business in collision course with Paris Accord
Dividend to increase by 15% to $0.33 per share; 70% of pre-pandemic levels of $0.47 Oil major will only invest in renewables that have returns comparable to those of...
Investors miss opportunity to urge ExxonMobil and Chevron to drive down emissions by 2030 as votes for Follow This climate resolution fall
Investors enable US supermajors to continue to cause climate breakdown DRAFT PRESS RELEASE At the close of Big Oil’s AGM season, a most investors miss the opportunity to...
Record support for Follow This climate resolution at TotalEnergies thanks to coalition of 17 investors
Investors seize opportunity to urge TotalEnergies to drive down emissionsPRESS RELEASEA growing shareholder rebellion of 30% (up from 17% in 2020) voted in favour of the...
One-fifth of Shell shareholders maintain demand for emissions reductions to meet Paris by voting for Follow This climate resolution
Majority of investors miss an opportunity to urge Shell to drive down emissions by 2030PRESS RELEASEInvestors miss the opportunity to urge Shell to drive down emissions by...
World’s largest investor alliance Climate Action 100+ flags Follow This climate resolution at Shell
For the first time, the Climate Action 100+ lead investors* at Shell are endorsing the Follow This climate resolution, demonstrates an investor briefing released today. ...
World’s largest investor alliance Climate Action 100+ flags Follow This climate resolution at Shell
For the first time, the Climate Action 100+ lead investors* at Shell are endorsing the Follow This climate resolution, demonstrates an investor briefing released today. ...
No single oil major has Paris-aligned strategy, the world’s largest investors’ alliance concludes once again
Seven years on, despite significant steps, there is still no single oil major which plans to reduce emissions in line with the Paris Climate Agreement, concludes CA100+, the...
Finally, Shell’s absolute emissions are forecasted to decrease; however a 5% decrease by 2030 is far from Paris aligned
MEDIA UPDATE Company avoids meaningful energy transition to renewables by cutting emissions with carbon offsets while growing fossil fuel sales, new research shows For the...
TotalEnergies to increase fossil fuel production by 2030, as Paris Climate Agreement calls for reduction
PRESS RELEASE TotalEnergies will increase fossil fuel production by 2030 by growing its natural gas production, the company shared in its strategy presentation in New York...
TotalEnergies forecasts global natural gas consumption to increase by 10% by 2030, yet achieving the Paris Climate Agreement requires a shift away from fossil fuels to renewables
PRESS RELEASE TotalEnergies expects the global natural gas consumption to increase by 10% by 2030 as published during today’s Energy Outlook presentation (see slide 41 in...
Paris Stock Exchange Committee (HCJP) hears shareholder activist about the imperative of voting rights on climate targets
Group of green shareholders – Follow This – argues shareholder voting rights are imperative to compel TotalEnergies to take sufficient climate action. “If...
Big Oil evades climate targets as investors retreat from Paris-alignment
POST AGM INVESTOR BRIEFING Dear investors in Big Oil, For investors in Big Oil, the fight against the climate crisis has lost momentum in 2022. The recently updated...
Shareholder rebellion at Chevron and Exxon as 33% and 28% vote in favour of Paris-consistent climate targets
PRESS RELEASE One third of shareholders vote in favour of Follow This climate proposal at Chevron, despite fears that energy crisis would eclipse climate crisisSignificant...
Shell evades climate targets as shareholders retreat from Paris-alignment
Energy crisis resulting from Ukraine war has eclipsed climate crisisInvestor support for Paris-consistent targets (resolution 21, filed by Follow This) decreases to 20%...
BP evades climate targets as shareholders retreat from Paris-alignment
PRESS RELEASE Energy crisis has eclipsed climate crisis The fight against the climate crisis loses momentum at BP: support for Paris-consistent climate targets (resolution...
Shareholder rebellion at ConocoPhillips as 39% of shareholders vote in favour of Follow This climate proposal
Highest vote in favour of a Follow This proposal which requests emission reductions in line with the Paris Climate Agreement (in the US, in 2021 Follow This only requested...
Shell rejects climate resolution amidst increasing investor pressure
PRESS RELEASE Shell calls Paris-consistent targets for 2030 “unrealistic” 9 of the 10 largest Dutch investors announced they will vote in favour of climate resolutions that...
ExxonMobil advises shareholders to vote against Scope 3 emissions reductions
PRESS RELEASE First climate proposal that requests Paris-alignment at ExxonMobil, following peers in Europe and the US. Oil major specifically rejects accountability for...