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Proxy advisory ISS said Monday it recommended TotalEnergies (NYSE:TTE) investors support a climate activist shareholder resolution calling for faster emissions cuts at the company's May 26 annual general meeting.
The resolution filed by climate activist Follow This wants the company to align with the Paris Agreement goal of keeping global warming below two degrees Celsius above pre-industrial levels.
TotalEnergies (TTE), which has said it does not expect to institute deep emissions cuts by 2030 and recommends shareholders vote against the Follow This resolution, "shows lack of rigor, notably with regards to the 2030 worldwide Scope 3 objective and the ongoing business plan that develops oil projects and relies on gas over the period" to 2030, Insitutional Shareholder Services said.
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