French oil giant Total SA said it won’t renew its membership of a key industry lobby group because the organization’s stance on climate issues doesn’t align with its own.
The company’s decision to leave the American Fuel & Petrochemical Manufacturers association follows a similar move by Royal Dutch Shell Plc earlier this year. Such lobby groups have long been a target of environmental activists, but now oil majors are increasingly feeling the heat from investors demanding that their business models align with the Paris climate accord.
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