Pressure mounted on oil majors on Friday as Norway's giant sovereign wealth fund said it would vote against CEOs at Chevron and Exxon and support for a climate activist resolution at TotalEnergies' AGM surged to over 30%.
with protesters trying to block entry to the French company's annual general meeting .
Still, Follow This, which put forward its TotalEnergies resolution together with 17 institutional investors with a total of 1.1 trillion euros under management, got 30.4% of votes on Friday. The last time Follow This filed a resolution at the French group in 2020, it received 17% support.recommended voting in favour of Follow This at TotalEnergies' AGM, in contrast to the negative recommendations for the resolution at Shell and BP.
The jump in support for the activist resolution did not, however, derail TotalEnergies' company-sponsored climate resolution, which got almost 89% backing, echoing last year's result.
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