BP board will back shareholder push to align goals with Paris climate agreement

Oil major BP PLC’s board said Friday it will back a shareholder resolution at its annual meeting this year that would force the company to align its business strategy with the goals of the Paris Agreement on climate change.

The move comes after shareholders passed a motion in 2015 that asked the company to improve its corporate reporting and transparency on climate change-related risks. Since then a group of investors has worked hard to persuade BP BP, -0.45% BP., -0.18%  and other companies in which they invest to commit to the goals that aim to contain warming in the current century to less than 2 degrees Celsius. Those investors are signatories of the global Climate Action 100+ initiative, which was launched in December of 2017 with the goal of pushing the biggest emitters of greenhouse gases to help drive the transition to clean energy.