Union Investment removes TotalEnergies from sustainable funds amid Uganda dispute
German asset manager Union Investment has excluded TotalEnergies from its sustainable funds over allegations of human rights violations linked to the EACOP oil project in Uganda, further complicating its international financing.
| Countries | Chine, France, Ouganda |
|---|---|
| Companies | TotalEnergies |
| Sector | Pétrole |
| Theme | Investissements & Transactions, Financement, Développement de projets |
Asset manager Union Investment, one of the twenty largest shareholders of TotalEnergies, announced it had excluded the French oil group from its sustainable funds due to concerns over human rights issues related to the East African Crude Oil Pipeline (EACOP) project in Uganda. The announcement was made on May 22, accompanied by a formal request for an independent audit of the social conditions surrounding the project.
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