Investor activist group Follow This has announced that it will not file climate resolutions at major oil and gas companies in 2025.
Founder Mark van Baal said this is a “strategic pause to get more investors on board and to discuss how to work together to uphold shareholder rights”.
“This pause is part of our long-term mission to empower shareholders to compel high emitters to drive down GHG emissions,” he added. “Filing resolutions without secured, broad investor backing could risk lower votes, potentially undermining progress.”
Follow This highlighted how shareholder resolutions have pushed Shell, BP, Equinor, Phillips66, and Chevron to adopt emissions reduction targets, but also noted the current political climate and the withdrawal of support from asset management firms on climate-related resolutions.
In a statement, it said it would focus on “increasing investor pressure and upholding shareholder rights” over the coming year.