Patrick Pouyanne, CEO of TotalEnergies
Church of England investment funds lambast TotalEnergies
The French firm’s decision not to follow its peers’ lead on Russia is back in the spotlight
“It is clear that TotalEnergies’ position [on Russia] is incompatible with maintaining a social licence to operate.” So write Adam Matthews, chief responsible investment officer at the Church of England Pensions Board, and Bess Joffe, head of responsible investment at the Church Commissioners for England, in a hard-hitting letter to the French firm’s CEO, Patrick Pouyanne. The letter expresses “deep concern related to [TotalEnergies’] decision not to withdraw completely from the Russian market and disinvest [its] holdings in Russian operations”. And it notes that the firm’s decision to remain invested “in Russian companies that are clearly strategically significant within Russia is at odds w
Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
