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Enbridge 2023 AGM results trend toward improved accountability

Shareholder votes show strong investor interest in lobbying risk disclosure and scope 3 emissions reporting

Enbridge faced two shareholder resolutions at its AGM today related to net zero. 20% disagreed with Enbridge’s management and voted for or abstained on the first resolution asking for Enbridge to disclose risk arising from its US lobbying practices. 29% of investors voted for or abstained on the second resolution asking Enbridge to annually report its scope 3 emissions using accepted definitions.

“We’re pleased that a significant number of Enbridge investors signalled to management that it can do better on lobbying and emissions reporting,” said Duncan Kenyon, Investors for Paris Compliance Director of Corporate Engagement. “The energy transition will require that Enbridge do a better job of building bridges and putting out accurate information.” 

A sign of Enbridge’s risky political activity is the State of Michigan suing the company over Line 5. Meanwhile, the company continues to expand fossil fuel infrastructure while claiming it’s addressing scope 3 emissions, which is a contradiction. 

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