Equinor ASA | Exploration for new oil and gas discoveries is discontinued, that Equinor multiplies its green investments, improves its EGS profile and reduces its risk for future lawsuits

Status
64.00% votes in favour
AGM date
Previous AGM date
Proposal number
15
Resolution details
Company ticker
EQNR (previously Statoil)
Lead filer
Undisclosed filer
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • Climate change
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Energy
Company HQ country
Norway
Resolved clause
“1. All exploration for new oil/gas discoveries to be discontinued.
The management realises that the oil business is already a “sunset industry”.
2. Equinor multiplies its green investments.
The management acknowledges the climate disaster threatening us, not least coming generations’
health and living conditions worldwide.
3. Equinor improves its reputation by sharply improving the company’s EGS profile.
The responsibility for the Earth’s future is emphasised over short-term profits.
4. Equinor reduces its risk for future lawsuits.
Cf. the multi-billion damages and settlement awarded against the tobacco industry and pharmaceutical
opioid producers in the US that continued their business after they had become aware of the health risks.”
Supporting statement
Headlines about fluctuating, but downturn earnings for Equinor make an impression on the company’s
shareholders: According to SSB the state revenues from oil in 2020 were the lowest since 1999, and more
than halved from the year before.
Norway’s CO2 emissions were somewhat reduced in 2020, mainly due to the Covid 19 pandemic. The
reduction, however, is too slow, inter alia due to Equinor’s corporate policy. It is about the company’s EGS
profile (Environmental, Governance, Social), i.e. both environmental and climate profile, governance and
social responsibility.
As a medical doctor you have an ethical obligation to raise the alert when there is a great threat to
public health. According to the world’s most prestigious medical journal, The Lancet, global warming is the
greatest global health threat facing the world in the 21st century. The climate crisis is a health crisis.
As an Equinor shareholder, a Norwegian citizen, and a representative of the Doctors’ Climate Action, I invite
the annual general meeting, including the majority shareholder, to vote for the shareholder proposal.

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