Whereas Norway is committed to working to prevent global average temperature from rising by more than two degrees, the board of the Norwegian state-owned company Statoil is basing their continuing involvement with Canadian oil sands on an energy scenario that the International Energy Agency says points to a long-term temperature increase of 3.6 degrees.

This year's annual general meeting of Statoil will take place on 14 May. As last year, some shareholders have proposed ending the company's involvement in Canadian oil sands.

Statoil entered into the world's largest oil sand reserves in Alberta, Canada in 2007. Today the company owns 60% of the Kai Kos Dehseh project, and has four licenses in total. Production is still small, but according to the government of Alberta's quarterly update (pdf), Statoil is only just starting what they hope will be large-scale involvement in oil sands. The goal is to produce more than 200,000 barrels per day.

In the run-up to the annual general meeting, the board of Statoil has written a memo arguing against the shareholders' proposition. (pdf) The memo reveals a mode of thinking at Statoil which is not in line with the targets which Statoil's largest owner – the Norwegian government – defends in climate politics:

"It remains the board's position that a growing world population and rising standards of living in the developing world will continue to drive oil demand. According to the International Energy Agency, global unconventional oil production will rise to 10 million barrels per day in 2035. Statoil's operational strategy in the oil sands activities has from the NAOSC acquisition been based on principles of a step-by-step development to secure learning from operational experience, and by establishing clear and stretched ambitions for environmental and economic performance."