Shareholders ask Equinor to explain ‘inconsistency’ between oil expansion and climate goals
"If Equinor can’t make its renewables business profitable, it should return excess capital to its investors – not double down on fossil fuel projects."
A group of minority shareholders in Norwegian oil and gas company Equinor have filed a resolution requesting it to explain how its planned production increase fits within its climate plans.
The resolution filed today by pension funds Sampension and Folksam, along with the Australiasian Centre for Corporate Responsibility (ACCR), argues that the company’s planned increase in oil and gas production is inconsistent with the shareholder expectation that the firm would align its operations with the Paris Agreement.
