Filed by a group of small investors, led by U.K.-based Sarasin & Partners and seen by Reuters, the resolution calls on Equinor to update its strategy and capital spending plan
, majority owned by the government, to bring its strategy and capital spending into line with the Paris Agreement on climate.
The Equinor resolution also underlines Norway’s dual position as a major oil and gas exporter that wants to continue producing fossil fuels while at the same time being active diplomatically to cut global greenhouse gas emissions. The government, which holds a 67 per cent stake in Equinor, did not immediately respond to an email requesting comment. It has voted against all climate resolutions proposed by the company’s minority shareholders so far.
In February, Equinor said it would aim to sustain domestic oil and gas output between 2020 and 2035, while its international output is set to rise by 15 per cent between 2024 and 2030.
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