Experts: BP Lagging in Climate Goals Despite Resolution
Less than two months after Royal Dutch Shell bowed to shareholder pressure from institutional investors, European rival BP has followed suit, agreeing to support a shareholder resolution that calls for it to report and provide evidence that its longterm strategy is consistent with the goals of the Paris Agreement.
The resolution was put forward by activist investor group Climate Action 100+, which has institutional investors with more than $32 trillion under management. A second, arguably tougher resolution put on the table in November by the Dutch-based Follow This activist investor group calling for BP to adopt Parisaligned longterm targets for operations and products was rejected by BP's board. Read Full Article - Energy Intelligence, February 4, 2019