Methane gas is currently one of the biggest threats to our climate, and the U.S. Gulf South is Ground Zero for the buildout of methane gas export terminals. We oppose any effort to expand methane gas production and urge investors to steer clear of any company who is doing so. #NoLNG #DefundClimateChaos
❓Why are we, with 32 other representatives of organizations, sending a letter to ENGIE’s main shareholders? Because we are deeply concerned about ENGIE’s new investments in fossil #gas and the signing of long-term liquefied natural gas (#LNG) import contracts, as we detail in this post. ENGIE’s strategy of expanding fossil gas, coupled with the company’s lack of commitment to phase out gas, raises doubts about its ability to contribute to achieving carbon neutrality in the electricity production sector by 2035 in advanced economies and by 2040 in other countries, as projected in the International Energy Agency’s (IEA) #NetZero Emissions by 2050 (NZE) scenario. ➡️ Shareholders and bondholders of the company have the responsibility to guide Engie towards a fossil gas phase-out aligned with the 1.5°C target. 📢 We therefore urge them to vote against the #SayOnClimate and against the renewal of the mandate of board member Catherine MacGregor, who is also the CEO of the company and responsible for ENGIE's continuing fossil gas expansion strategy, at ENGIE’s upcoming AGM to escalate their engagement.