During Equinor’s annual general meeting, several proposals were received from environmental organisations and other players to tighten the company’s climate and renewable targets.

The proposals were voted down by the shareholders, with the state in the lead.

Equinor confirmed the outcome of the vote to Dagens Næringsliv ahead of the publishing a message on Wednesday evening.

One of the proposals – from Greenpeace and WWF – was to look at absolute emissions, and not at emissions per unit of energy produced.

The organisations believe that the company’s plans within oil and gas are not compatible with the goals of the Paris Agreement.

The board recommended that the shareholders vote against, which they did.

Now we expect the company to set targets and take measures to limit global warming to 1.5 degrees. This means that there is no room for new development of oil and gas fields, says head of the climate and energy team at WWF Ragnhild Elisabeth Waagaard.

Last week, Equinor presented an adjusted operating profit of just under NOK 130 billion in the first quarter. The company also signalled high dividends for quite some time to come as a result of an unusual accumulation of money in the company thanks to high gas and oil prices over the past year or so.

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