“We want Total to go further in its climate ambition”, assures OFI Invest, a minority investor in the multinational.

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Luisa Florez, director of responsible finance research for OFI Invest, wants to “raise the consciences of investors but also of the company.”

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Luisa Florez, director of responsible finance research for OFI Invest, May 22, 2023. (FRANCE INFO / RADIO FRANCE)

To what extent can small shareholders influence the policy of large groups and in particular their environmental policy? The question arises while the general meeting of TotalEnergies is being held, Friday May 26. Investors have tabled a resolution to force Total to set more ambitious targets in terms of reducing greenhouse gas emissions.

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What is the purpose ofsuch a resolution? asks Luisa Florez, director of responsible finance research for OFI Invest, Monday May 22 on franceinfo while this company specializing in investment responsible is a stakeholder in this action: “We want to raise the awareness of investors but also of the company. We want Total to go further in its climate ambition, by setting targets for its indirect emissions, which represent nearly 80% of the company’s total emissions, ” she expands. The shareholders only have 1.5% of the capital of TotalEnergies and this resolution has no chance of passing.

“We think that little by little, year by year, we raise awareness and push the company to set more ambitious goals. It’s a long-term job.”

Luisa Florez, responsible finance research director for OFI Invest

at franceinfo

This resolution is also this time on the agenda, a first course. The group has already responded in a press release that “the proposed resolution does not provide a credible response to the challenges of climate change and would be contrary to the interests of the company, its shareholders and its customers.”

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At the beginning of May, in a column published by The worlda collective of 188 scientists and experts called on TotalEnergies shareholders not to vote for their climate strategy, “the say on climate”, in particular because of the “carbon bomb” represented by the pipeline project in Uganda. “We must not vote with our eyes closed, we must question this climate ambition and we think that it can go further”, insists there director of finance research responsible for OFI Invest, who will therefore vote against.

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