AP4's shareholder proposal for expanded sustainability reporting approved by Statoil's shareholder

Yesterday, May 20, Statoil held their annual general meeting, and as earlier reported, AP4, together with the Second AP-fund, submitted a shareholder proposal.

The proposal suggested several things, including that Statoil should 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. 

    Before the meeting, the Board of Statoil had recommended their shareholders to support the proposal and during yesterday's AGM the proposal was approved by 99.95 percent.

Earlier this spring, AP4, together with a large number of other investors, presented the same shareholder proposal on Shell's and BP's annual meetings. Also these proposals were approved, by 98.9 percent and 98.3 percent respecitively, after the boards recommended their shareholders to support the proposals.

 

Published Wednesday, May 20, 2015