AP2 submits shareholder proposals for increasing climate reporting of Statoil

AP2 have, together with AP4, submitted a shareholder proposal for Statoil’s AGM. It is proposed that the company will expand its reporting regarding: greenhouse gas emissions, evaluating project portfolio against relevant post-2035 scenarios, the company’s plans in terms of research and development for “low-carbon” energy and how the company takes sustainability into their strategic key indicators and bonus system. The Board of Statoil recommends that shareholders to support the proposal.

Ulrika Danielson and Arne Loow representing AP2 and AP4 comment the proposal: “Since oil-related energy companies have challenges ahead in terms of both financial and environmental issues, we see this resolution as a good tool to help Statoil to strengthen its reporting on climate change issues.”

Earlier this spring, AP2, together with a large number of other investors, presented the same shareholder proposal on Shell’s and BP’s annual meetings. The boards of these companies recommended all shareholders to support the proposal. On BP’s annual meeting the proposal was voted through. Statoil’s and Shell’s annual meetings are held on May 19.

Link to the resolution (PDF-document, 131 kB)

Read the recommendation from the Board of Statoil.