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Environment: Senate presents TotalEnergies options to meet France’s climate commitments

Environment: Senate presents TotalEnergies options to meet France’s climate commitments

Environment: Senate presents TotalEnergies options to meet France’s climate commitments

TotalEnergies under the Senate grill: The upper house unveiled a series of recommendations on Wednesday to ensure the oil group complies with France’s climate commitments, after months of work by a transpartisan commission of inquiry.

This commission of inquiry, set up in December by an environmental group at the Luxembourg Palace, managed to complete its work last week with the unanimous adoption of the report, a feat in an assembly dominated by an alliance of right and center.

“This is a balanced report that is not exactly what I would write in my report, but which the Senate can be proud of,” welcomes former presidential candidate Yannick Jadot, rapporteur on these works.

33 recommendations

In a compromise with the right (former Secretary of State Roger Carucci chaired this commission of inquiry), the Senate’s 33 recommendations aim to offer the state tools to better ensure TotalEnergies’ compliance with climate change commitments and the orientation of French foreign policy.

While the final proposals have not been revealed in detail, several parliamentary sources have mentioned some important measures, some of which target all companies in the sector except TotalEnergies. These include strengthening controls on “revolving doors”—those exchanges of senior officials or managers between the public and private sectors—or developing resolutions like “Speak Up on Climate,” requiring listed companies to consult their shareholders. . about its climate strategy.

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Another sensitive point is the government’s purchase of a very minority stake in TotalEnergies. The proposal, much anticipated by the left, is much more irritating to the right, but could be the subject of a compromise in the Senate report, according to several parliamentary sources.

“The Source of All Evil”

As it celebrates its 100th anniversary in 2024, the oil and gas multinational and its CEO Patrick Pouyanné continue to face association criticism for their refusal to move away from oil too quickly, a strategy adopted by the group during Senate hearings.

“If we don’t invest in the oil system, we will see a reduction in supply, at which point prices will skyrocket,” explained Patrick Pouyanné, not hiding his irritation at being perceived as “the source of all evil.”

The choice of speaker Yannick Jadot, who has regularly criticized TotalEnergies and been attacked in court by the company, which accuses him of libel following the 2022 presidential campaign, also crystallized criticism from both the company and the senatorial right.

Source: Le Parisien

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