(News Bulletin 247) – The commission of inquiry of the upper house has unveiled a series of recommendations on Totalenergies, including the State’s right to review the evolution of the oil major’s shareholding.
The Senate commission of inquiry devoted to Totalenergies and climate action recommends that the State hold a “specific share” in the group’s capital to have a “right of inspection”.
“A ‘specific action’ would allow the State to have a ‘right of review’ over the shareholder developments of the group and greater information, or even greater influence, with regard to the strategic decisions of its board of directors”, underlines the report which makes 33 recommendations to the State.
A shareholder base “very focused” on the United States
The commission of inquiry justifies this proposal in view of “the evolution of the threats weighing on the energy sovereignty of France and Europe, the evolution of the structure of the shareholder structure of Totalenergies”, increasingly more focused on the United States, “and the need to support a European major in its energy transition efforts”.
The hypothesis of seeing Totalenergies relocate its main listing to New York “made the Senate react”, explains environmentalist senator Yannick Jadot, rapporteur for this commission chaired by Les Républicains senator Roger Karoutchi.
(With AFP)
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
