Responsible Investor | by Carlos Tornero
Follow This, the group known for filing climate resolutions at Shell, and the Australasian Centre for Corporate Responsibility, have co-filed a shareholder proposal at Equinor, the oil firm formerly known as Statoil that is majority owned by the Norwegian state.
The proposal follows on the heels of those recently filed at Shell and BP which offer the companies shareholder support to set and publish Paris-aligned and long-term targets to reach the ‘well below’ 2°C goal.
Those targets should also acknowledge scope 3 emissions, i.e. operations and use of its energy products, the proposal states.
Mark van Baal, founder of Follow This, highlighted that the proposals at Shell, BP and Equinor are almost a verbatim version of the one filed at ExxonMobil by Climate Action 100+ this week.
“The fact that large institutional investors are now asking for the same things as Follow This since 2017 is great news for the fight against climate change,” Van Baal said.
He told RI that the combination of engagement and shareholder proposals delivers results. As such, he said that those institutional investors who support the proposal at ExxonMobil will have good reasons to vote for at the AGMs of BP, Shell and Equinor.