GPS News
ENERGY NEWS
Climate activists put the heat on shareholder meetings
Climate activists put the heat on shareholder meetings
By Kevin Trublet with AFP bureaus in Frankfurt, London and New York
Paris (AFP) May 17, 2023

Climate activists are using shareholder meetings to turn up the heat on corporations about their carbon footprints, from flooding them with questions to more colourful tactics like singing or throwing cake at executives.

Last week's Volkswagen shareholders meeting was particularly testy, with a cake landing on the podium where supervisory board member Wolfgang Porsche, who was celebrating his 80th birthday, was sitting.

Scientist Rebellion activists held up a sign slamming the emissions from the group's vehicles. Another person took her top off in protest at the company's operations in China's Xinjiang region, where rights groups and the US say genocide is taking place.

"I wanted to go directly to the source of the car lobbies," said one of the activists, Monika Krimmer, a 60-year-old psychotherapist who held up signs and handed out fliers at the Berlin meeting.

In Paris on Tuesday, Scientist Rebellion members inundated BNP Paribas executives with questions about the European banking giant's climate strategy -- to the point of angering shareholders who hurled insults at the scientists.

BNP bosses, however, answered the questions.

"Do not underestimate the targets we have set," said CEO Jean-Laurent Bonnafe, while refusing to draw a red line regarding firms that invest in new fossil fuel fields.

- Spice Girls -

Earlier this month in London, HSBC's gathering was repeatedly interrupted by climate activists, with some demanding that the bank stop investing in fossil fuel companies and others accusing the firm of lying.

Fed up with the interruptions, executives asked that the activists be escorted out.

Days earlier, a group of activists disrupted the Barclays bank meeting, changing the lyrics to a Spice Girls song to sing "stop funding fossil fuels and end this madness".

Lorette Philippot, a campaigner at environmental group Friends of Earth, said shareholder meetings are where companies discuss their performance and make new pledges.

"So it's our role as a counter-power to both tell the truth about their actions and prevent this annual display of greenwashing," Philippot told AFP, using the term for misleading climate pledges made by companies.

The meetings are also a chance to push companies to step up their climate ambitions, she added.

- Virtual meetings -

Activist actions at shareholder gatherings are nothing new -- Greenpeace members rocked the meeting of French energy giant TotalEnergies in 2018, some hanging from the ceiling with signs reading "break free from oil".

But the "climate issue is rising in a somewhat radicalised way" with "more and more confrontations, sometimes violent", said Benedicte Hautefort, co-founder of Scalens, a financial technology firm serving listed companies.

In the United States, some corporations have avoided confrontation as they continue to hold virtual meetings, such as oil giants ExxonMobil and Chevron and banking group JPMorgan Chase.

"In a world where boards have precious little accountability, it's a step backwards," said Andrew Logan, senior director for oil and gas at Ceres, a nonprofit that works in favour of sustainability policies through capital markets.

bur-ktr/jbo/lth/rl/mca

BARCLAYS

TotalEnergies

EXXONMOBIL

VOLKSWAGEN

BNP Paribas

CHEVRON

JPMorgan Chase

HSBC

Related Links

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
ENERGY NEWS
US moves to curb power plant emissions
Washington (AFP) May 11, 2023
President Joe Biden's administration on Thursday announced sweeping plans to curb planet-warming emissions from the nation's power stations, as part of the United States' efforts to combat the climate crisis. Starting from 2030, the proposal would target fossil fuel electricity production with increasingly stringent carbon reduction requirements, including compelling some coal plants to directly capture pollution from their smokestacks. "In every corner of our nation, Americans are seeing and fe ... read more

ENERGY NEWS
Automated agricultural machinery requires new approaches to ensuring safety

The number of the world's farms to halve by 2100, study shows

Another step away from the farm: meat grown from immortal stem cells

Top chocolate maker delays sustainability target date

ENERGY NEWS
UH researchers develop sensors that operate at high temperatures and in extreme environments

Toward more flexible and rapid prototyping of electronic devices

UK unveils billion pound semiconductor strategy

'Charge density wave' linked to atomic distortions in would-be superconductor

ENERGY NEWS
NASA Super Pressure Balloon mission terminated due to anomaly

Supernal and Inmarsat partner on Advanced Air Mobility vehicle connectivity

Hybrid airship enters the transfer portal

Russian jet intercepts Polish plane over Black Sea

ENERGY NEWS
Carmaker Aston Martin says China's Geely doubles stake

UK to roll out first driverless bus service

Protesters throw cake at Volkswagen shareholders' meeting

Demand for electric cars 'booming': IEA

ENERGY NEWS
Markets mixed as sluggish debt talks worry investors

US and Taiwan conclude trade negotiations

EU, India vow to boost trade ties despite differences

Burberry profits rise, China reopening boosts sales

ENERGY NEWS
Brazilian Amazon deforestation falls in April

China ends import ban on Australian timber

A primal forest encircled by Ecuador port faces ruination

Illegal mining booms in Brazilian Amazon 'promised land'

ENERGY NEWS
When it comes to satellite data, sometimes more is more

Rocket Lab sets date for 2nd NASA TROPICS launch

EarthCARE, when a satellite sheds light on the clouds

LiveEO and Capella Space offer fast, high-res SAR imaging to asset managers

ENERGY NEWS
Single-molecule valve: a breakthrough in nanoscale control

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.