May 6, 2020 / 11:26 AM / a month ago

Group of investors say Total should expand net zero climate target

PARIS, May 6 (Reuters) - A group of 11 shareholders representing around 1.35% of energy major Total’s capital on Wednesday welcomed the firm’s new climate change targets, but said they would maintain a planned resolution to push the company to do more.

The shareholders, led by French asset manager Meeschaert, will present a resolution at Total’s May 29 general assembly meeting to amend the company’s statutes to strengthen its commitments to achieve the goals set out in the Paris Climate Agreement.

Total said on Tuesday that it planned to cut its carbon emissions, with the aim of reaching net zero emissions from its operations and its energy products sold to customers in Europe by 2050 or sooner. (Reporting by Bate Felix and Leigh Thomas, Editing by Sarah White)

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