TotalEnergies: CEO mocks “Tartuff side” of shareholders who oppose climate strategy

TotalEnergies: CEO mocks "Tartuff side" of shareholders who oppose climate strategy


The last GeneralEnergies General Meeting was marked by the resistance of some shareholders to the group’s climate strategy.


Patrick Pouyanné, CEO of TotalEnergie, Doha, 26 March 2022. (AFP / KARIM JAAFAR)

On Tuesday, May 31, TotalEnergies CEO Patrick Pouyanné condemned the “Tartuffe party” and the “marketing” of certain institutional shareholders who had recently

voted against the oil and gas giant’s climate strategy

during a busy general meeting.

“I don’t mind us making a lot of noise

some French institutions that are not happy

but who keep their shares, even if they raise them, “he said in an interview with BFM Business on Monday and aired on Tuesday.” The Tartuffe party is in this affair, “says Patrick Pouyanné .

Minority opposition to climate strategy

The meeting began on Wednesday with shareholders blocked outside protesters and eventually resulted in a large vote (89%) for the group’s climate strategy, despite

resistance from a minority of investors

(insurance from Crédit Mutuel, Edmond de Rothschild, La Financière de l’Échiquier, Dutch MN Fund, etc.).

Graph showing the share and country of origin of gas imported by the European Union (AFP /)

Graph showing the share and country of origin of gas imported by the European Union (AFP /)

Patrick Pouyanné scoffed at the shareholders, “who do a little marketing on our backs, from TotalEnergies, which makes me a little angry.” “They are probably more driven by the marketing of their events than by the climate emergency,” he said. “We give them a lot of weight, but what I see is

in the end, 89% of shareholders supported our plan

Patrick Pouyanné continued, making sure to hear “all the criticism.”

Closed session

“I condemn all the violence that has taken place in both directions,” he added of the sometimes tense exchanges between blocked shareholders and protesters at the GA entrance last Wednesday.

The meeting eventually took place behind closed doors and online

.

Patrick Pouyanné also predicted “a great announcement from TotalEnergies in hydrogen,” “in the coming weeks.” “When TotalEnergies does something, it’s not enough,” he stressed.

.



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