AUTONEWS

Investors ask Total to expand climate goal to zero emissions

PARIS (Reuters) - Investors representing around 1.35% of Total's share capital have welcomed the oil company's new goals in relation to climate change, but will maintain pressure with a resolution that asks the company to do more with regard to to the theme.
Total announced on Tuesday that it plans to achieve zero net emissions in its operations and in products sold to consumers in Europe no later than 2050.
Even so, the group of 11 shareholders, led by the French investment fund Meeschaert, will present a resolution at the company's general meeting on May 29, to strengthen Total's commitment to achieving the goals stipulated by the Paris Climate Agreement.
Investors said they wanted Total to expand its net zero emissions target for energy products to consumers around the world, not just Europe, and requested a detailed action plan.
The resolution has already received positive responses, according to shareholders, and Total has clarified some of its goals towards carbon neutrality.
"However, the climate challenge has no boundaries ... This first step, therefore, will need to be reinforced in an action plan that meets concrete and exhaustive objectives, including the group's greenhouse gas emissions, especially outside Europe" , they said in a statement.
Total chairman and CEO Patrick Pouyanne said on Tuesday that the company's management even debated the so-called Scope 3 goal (which includes greenhouse gases emitted by the fuels and products the company sells to consumers), but it decided to be something premature. Felix Bate and Leigh Thomas