Company says it will continue to engage with shareholders on climate strategy but advocacy group says board has not met expectations
, will face investor unrest over its climate policies at Friday’s annual general meeting, with some unconvinced that they are either properly designed or achievable.
It is a view shared by one of Europe’s largest asset managers, Legal & General Investment Management , which is also opposing the re-election of Macfarlane.LGIM cites “concerns around the company’s lack of commitment to aligning with the Paris objectives and net zero” for its position. Scope 1 and 2 are emissions produced by the company in extracting resources, which are far smaller for an oil and gas company than scope 3.
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