Engie Asks Shareholders to Reject Demand for Annual Climate Vote

French gas and power utility Engie SA asked shareholders to reject a resolution proposed by more than a dozen money managers calling for an annual vote on the company’s progress in reducing carbon emissions.

Investors including France’s Mandarine Gestion, Belgium’s Degroof Petercam Asset Management, and PGGM of the Netherlands are asking Engie’s board to publish more details on the company’s climate strategy, discuss it at the annual shareholder meeting and submit it for a non-binding vote.

Engie argued that its strategy in this area should be assessed with a medium-to-long-term view. The company’s yearly progress toward its climate goals may ...