Published on March 17, 2022
Montréal, March 17, 2022 – Bâtirente and FÉRIQUE Fund Management are highlighting the commitment of Imperial Oil to boost its efforts regarding climate protection. The petroleum company has committed to working on strengthening its absolute GHG (greenhouse gas) emissions reduction targets. In its published management proxy circular, Imperial Oil committed to working toward:
- Setting a midterm goal of reducing its absolute GHG emissions, in line with its longer-term goal of achieving net zero emissions for its oilsands operations.
- Extending its net zero emissions goal to all its activities, including downstream of the extraction process.
“The climate emergency is real. It’s important to have petroleum companies commit to scenarios that create real gains and benefits for the climate in the short term,” emphasized Bâtirente CEO, Éric Filion.
The progress in this petroleum company’s commitments was achieved as part of a shareholder dialogue led by Æquo, Shareholder Engagement Services on behalf of Bâtirente and FÉRIQUE Fund Management.
“This agreement with Imperial represents a significant step toward achieving the goals of our partner investors,” explained Daniel Simard, interim CEO of Æquo. “It should also be noted that we will remain vigilant and insist that Imperial act on its commitments already as of this year, and that its interim targets take effect by 2030 or even before, if possible.”
“This agreement is important, as it shows that, through shareholder engagement, it’s possible to develop successful collaborations between shareholders and the companies they’ve invested in,” concluded Louis Lizotte, Chief, Investment Solutions at FÉRIQUE.