Media Press releases Total’s Annual Shareholders’ Meeting: Assurances du Crédit Mutuel and Crédit Mutuel Asset Management will abstain [...]

Total’s Annual Shareholders’ Meeting: Assurances du Crédit Mutuel and Crédit Mutuel Asset Management will abstain from voting on resolution 14 relating to the company’s climate strategy

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True to their mutualist values, Assurances du Crédit Mutuel and Crédit Mutuel Asset Management apply an engaged investment policy to grow the savings of their customers and members while also contributing to the efforts to deal with the major ecological and societal challenges of our time. As part of this approach, combating climate change is a top priority.
 
Based on this mandate, Assurances du Crédit Mutuel and Crédit Mutuel Asset Management engage in constructive, regular and respectful shareholder dialog.
 
At its Annual Shareholders’ Meeting on May 28, 2021, Total will propose a resolution on its climate strategy (resolution 14) which sets out three positive developments:
  • the involvement of the shareholder community through the annual shareholders’ meeting and the resulting obligation created for the company;
  • the definition of a scope of commitments that includes the use by clients of the products and services sold by Total (scope 3);
  • the acceptance of commitments across all of Total's activities, regardless of where they are located.

Given the progress achieved over the last year, Assurances du Crédit Mutuel and Crédit Mutuel Asset Management will abstain this year from voting on Total’s say on climate resolution. This abstention constitutes a requirement around the continuation of the process in order to rapidly lead to:
  • a reduction in oil production and no further exploration of new oil fields;
  • the definition of intermediary objectives to ensure the credibility of the 2050 targets;
  • a better distinction between production and marketing;
  • regular consultation through the annual general meeting on these new commitments and on the progress made in Total's transformation.

 

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About Assurances du Crédit Mutuel

Since 1971, Assurances du Crédit Mutuel, a subsidiary of Crédit Mutuel Alliance Fédérale*, has been devising, designing and steering the offers and services behind the development of the insurance activity of Crédit Mutuel, the inventor of the bank insurance concept.

Operating in the property, personal and life insurance markets, Assurances du Crédit Mutuel proposes innovative solutions for 12.8 million policyholders (individuals, professionals, businesses and associations) nationwide, through the Crédit Mutuel and CIC networks.

For more information see www.acm.fr

Figures as of December 31, 2020

* Crédit Mutuel Alliance Fédérale is made up of the following Crédit Mutuel federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), Ile-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre-Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand) and Antilles-Guyane (Fort-de-France). Crédit Mutuel Alliance Fédérale also encompasses Caisse Fédérale de Crédit Mutuel, Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, in particular CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), Targobank, Cofidis, Banque Européenne du Crédit Mutuel (BECM), Banque Transatlantique and Homiris.

 

About Crédit Mutuel Asset Management

Crédit Mutuel Asset Management has been in operation for more than 25 years, proposing a broad range of funds and asset management solutions for third parties with the aim of balancing performance with risk management. It has an employee headcount of 245 and assets under management of €70 billion.

Crédit Mutuel Asset Management offers a comprehensive range of solutions for a diversified client base (institutionals, large corporations, asset managers, individuals, high net worth clients, private banking clients, employee savings) and is recognized for its expertise in equity, fixed-income, diversified and structured fund management.

Crédit Mutuel Asset Management is the asset management company of Crédit Mutuel Alliance Fédérale.

For more information see www.cmcic-am.fr

 

Press contact

Aziz Ridouan: +33 (0)6 01 10 31 69 - aziz.ridouan@creditmutuel.fr

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