{"id":16442,"date":"2021-03-19T18:09:23","date_gmt":"2021-03-19T18:09:23","guid":{"rendered":"https:\/\/www.aequo.ca\/?p=16442\/"},"modified":"2025-01-30T11:15:08","modified_gmt":"2025-01-30T16:15:08","slug":"batirente-seeks-net-zero-ghg-emissions-target-from-imperial-oil","status":"publish","type":"post","link":"https:\/\/aequo.ca\/en\/batirente-seeks-net-zero-ghg-emissions-target-from-imperial-oil\/","title":{"rendered":"B\u00e2tirente Seeks Net-zero GHG Emissions Target From Imperial Oil"},"content":{"rendered":"

Montreal, March 8, 2021<\/strong> \u2013 B\u00e2tirente, with support from \u00c6quo Shareholder Engagement Services (\u201c\u00c6quo\u201d), submitted a shareholder proposal to the Imperial Oil Limited, asking the latter to adopt a corporate target that would enable it to achieve net-zero greenhouse gas (GHG) emissions by 2050.<\/p>\n

The proposal is part of our efforts aimed at encouraging oil companies to reduce their GHG emissions and diversify their activities toward low-carbon products and services. The fact that Imperial announced a reduction target for 2023 is a step in the right direction, but we believe that it is imperative for companies to set themselves a long-term strategy when it comes to reducing their carbon footprint. \u201cAll companies, especially those in the energy sector, must align their business activities and strategies with the Paris Agreement and thereby reduce their emissions by 2050\u201d, stated Daniel Simard, CEO of B\u00e2tirente.<\/p>\n

By submitting such a proposal to Imperial, B\u00e2tirente is asking them to combine their efforts with those of several other companies within the Oil & Gas sector as well as the financial sector. \u201cIn investors\u2019 eyes, companies that commit to reducing their emissions in the long term demonstrate sound management of business risks and opportunities\u201d, said Fran\u00e7ois Meloche, Director of Corporate Engagement at \u00c6quo.<\/p>\n

\u201cOur Engagement on climate, as unveiled in autumn 2020, aims to both alleviate the cause of climate warming, through the reduction of GHG emissions, and mitigate its consequences, by building resilience\u201d, emphasized Daniel Simard. \u201cIt is important for B\u00e2tirente to meet its fiduciary responsibility by taking measures to optimally allocate the capital entrusted to us.\u201d<\/p>\n

As a reminder, the Intergovernmental Panel on Climate Change (IPCC) estimates that CO2<\/sub> emissions will need to fall by 45% by 2030 to keep climate warming below 1.5\u00b0C, and that \u201ccarbon neutrality\u201d must be achieved by 2050.<\/p>\n\n