In a pioneering move, Follow This, in collaboration with the investment adviser Arjuna Capital, has proposed motions at a series of oil companies' annual meetings. This bold step, aimed at encouraging these energy giants to coordinate their operations and strategies in line with efforts to mitigate climate change, underscores the growing influence of shareholder activism in steering the trajectory of the oil and gas industry.
1. Investment adviser Arjuna Capital and Follow This have jointly proposed motions at oil companies' annual meetings, encouraging them to align their operations and strategies with climate change mitigation efforts.
2. This move emphasizes the increasingly significant role shareholder activism is playing in the direction of the oil and gas industry.
3. Follow This is continuously working towards combating climate change by pressuring oil and gas companies to set far-reaching, net-zero emission objectives.
4. The motion put forward by Follow This and Arjuna Capital has been tabled at several oil companies' annual conferences, challenging them to devise and execute strategies to substantially cut their contributions to global carbon emissions.
5. The ultimate goal is to achieve a net-zero carbon footprint, in line with the objectives set in the Paris Agreement.
In 2020, shareholder resolutions related to climate change increased by 70% at US companies, reflecting the broader trend of shareholder activism in the oil and gas industry.
This action comes as part of Follow This's continuous efforts to combat climate change by urging oil and gas companies to establish comprehensive, net-zero emission goals. The motion forwarded by Follow This and Arjuna Capital has already been recorded at several oil corporations' yearly gatherings. These propositions challenge large corporations to outline and implement strategies to drastically reduce their contribution to global carbon emissions. The end aim is to reach a net-zero carbon footprint, aligning with the targets established in the Paris Agreement.