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Most of the co-filers of the TotalEnergies proposal are members of investor coalition Climate Action 100+, which has been engaging with the firm since early 2017 to ensure alignment of emission reduction targets with a 1.5?C US shareholder action. Scope 3 emissions are indirect emissions that occur in a company’s value chain.
If an oil and gas company announces a 2050 net zero target but doesn’t show any changes to capex (for example, shifting to renewable energy) or asset valuation (to account for strandedasset risk) this could make investors and other stakeholders doubt the credibility of the company’s transition strategy,” Wartmann says. .
While Group of Seven governments are announcing grand plans , asset owners in developed markets are increasingly keen to play their part in this transition. . In April, a Principles for Responsible Investment (PRI) ? Transition opportunities also vary across Africa.
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