- Investors urge Equinor to align its strategy with the Paris Agreement Alignment.
- Equinor, majority-owned by the Norwegian government, faces shareholder criticism.
Investors urge Equinor to align its strategy with the Paris Agreement Alignment. The Norwegian government majority owns Equinor.
This follows adjustments by oil and gas companies, including Shell in Britain and ExxonMobil in the United States.
Investors are taking legal action against ExxonMobil. They seek faster emissions reductions. Equinor’s situation highlights Norway’s complexity.
It is a significant oil and gas exporter, yet it aims to reduce global greenhouse gas emissions. Equinor’s board advises against the resolution, stressing alignment with the Paris Agreement.
Flexibility in strategy execution is crucial. Equinor emphasises the need for a balanced energy transition. The government holds a 67 per cent stake in Equinor.
It consistently votes against climate resolutions. The resolution is led by UK-based Sarasin & Partners. It calls for Equinor to revise its strategy. Clarity is needed on new oil and gas development.
Shareholders criticise Equinor’s plans. They argue against alignment with the Paris Agreement. Norway’s government prioritises minimal emissions in petroleum production. It cites Europe’s energy security concerns. Equinor is expected to align with the Paris Agreement. However, the board determines the strategy, not the general meeting.