A coalition of 26 institutional investors – representing $4.8tr in assets under management combined – have urged Air Liquide to report and set targets on a procurement policy for renewable energy.
Their joint statement reads: “Disclosing further details of Air Liquide’s approach to procuring renewable energy sources, such as the criteria governing procurement across the company’s operations and regions, would provide further clarity on Air Liquide’s management of risks, including carbon price exposure and evolving regulatory requirements.”
The statement was coordinated by ShareAction and signed by Sarasin & Partners, Swiss Life Investment Management and Nordea Asset Management, to name a few. It was read aloud at the company’s annual meeting in Paris yesterday (5 May).
In response, the board of directors stated: "Air Liquide firmly believes that current objectives, driven by a strategic commitment to reducing absolute emissions, guided by flexible and locally optimized procurement strategies, and protected by necessary commercial confidentiality, remains the most effective and responsible path forward for Air Liquide and its shareholders."
