Daily Reports
TotalEnergies' AGM Marred by Environmental Protests
TotalEnergies, celebrating its 100th anniversary, witnessed a tension-filled annual general meeting (AGM) as environmental activists took to the streets in opposition to its activities. The French oil major, led by CEO Patrick Pouyanné who is set for a three-year renewal, held its meeting at the La Défense business district under heavy police presence. Shareholders streamed into the main and annex rooms without issue, while outside, Greenpeace activists unfurled a 'Wanted' banner featuring Pouyanné, reflecting the growing public discontent.
Protests Beyond La Défense
The climate activism extended beyond La Défense, affecting a simultaneous AGM by Amundi, one of TotalEnergies' primary shareholders, in the Montparnasse district of Paris. Several hundred Extinction Rebellion activists gathered, chanting slogans like 'Amundi accomplice'. There were instances of forceful entries, resulting in damages and minor injuries to security personnel. Public figures such as Sandrine Rousseau, MP for the environmentalists, and Manon Aubry, head of the Insoumis list in the European elections, joined the protest, underscoring the widespread concern over fossil fuel investments.
TotalEnergies on Defense
Despite the heightened tension, TotalEnergies maintained that it respects the right to demonstrate while deploring any form of violence. The company reiterated its choice of the 48-story tower to prevent immobilizing a district of Paris, a strategy influenced by the contentious 2023 AGM. Activists criticize TotalEnergies for its significant role in global warming, biodiversity loss, and human rights violations due to its gas and oil projects. They demand the abandonment of key projects in Uganda/Tanzania, Mozambique, and Papua New Guinea, urging the company to stop investing in new fossil endeavors as recommended by the International Energy Agency.
Shareholders were set to vote on the company's climate strategy, with increasing calls from investors for a more ambitious climate transition plan. This AGM emerged as a battleground between the fossil fuel giant and climate activists advocating for immediate action against climate change.
- During the protest at Amundi's AGM, activists emphasized the financial sector's role in backing fossil fuel companies. They argued that shareholders like Amundi bear significant responsibility for supporting environmentally harmful practices.
- Greenpeace activists reiterated their message by deploying another banner at a shopping center near La Défense, condemning TotalEnergies' profits amid an energy crisis and the lack of redistribution to ease energy poverty.
