Second AP Fund’s shareholder proposal for Statoil’s AGM was supported by 99.95 percent

At yesterday’s annual general meeting at Statoil, the Second AP Fund, together with the Fourth AP Fund, submitted a shareholder proposal. The proposal was supported by 99.95 percent and it was 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 had recommended the shareholders to support the proposal.

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. These proposals were supported by 98.9 percent and 98.28 percent.