Climate Activists Demand Accelerated Cuts to Planet-Warming Gases
In a dramatic showdown at TotalEnergies’ annual general meeting, French riot police unleashed pepper spray on several hundred climate activists who were attempting to block shareholder access to the event. The activists were demanding accelerated cuts to the planet-warming gases produced by the company’s oil and gas business. The intensity of the clash reflects the escalating tensions between environmental activists and major energy corporations.
TotalEnergies Faces Intense Pressure as Investors Vote on Climate Resolution
Inside the meeting, investors were preparing to vote on a climate resolution proposed by activist shareholders, which calls for stricter targets on greenhouse gas emissions. The resolution, backed by climate activist group Follow This and 17 institutional investors managing a total of 1.1 trillion euros, urges TotalEnergies to commit to steeper absolute emissions cuts by 2030. It also demands that the company includes Scope 3 emissions in its targets, accounting for the emissions released when customers burn the fuels it sells.
The confrontation between the protesters and the authorities highlights the growing urgency for oil and gas companies to address their environmental impact. Climate activists have been ramping up their efforts to push these corporations to reevaluate their business models and transition away from fossil fuels. This clash follows similar incidents at Shell’s shareholder meeting and BP’s AGM in recent weeks, indicating a rising tide of public discontent.
Energy Minister Agnes Pannier-Runacher emphasized the need for oil and gas companies to “re-invent themselves” and warned that they have no future unless they can chart a path out of fossil fuels. The pressure on TotalEnergies to align its practices with the goals of the Paris Agreement and reduce greenhouse gas emissions is mounting from both activists and policymakers.