BP HAS agreed to a resolution from investors to disclose how its greenhouse gas reduction and future investments plans are in line with the Paris Agreement. However, concerns have been raised separately about BP’s commitment to methane reductions.
BP agreed to support the resolution raised by a group of investors as part of Climate Action 100+. The resolution calls on BP to describe how its strategy, which includes growth in oil and gas as well as pursuing low carbon businesses, is consistent with the Paris Agreement. The resolution also highlights the potential inconsistency between BP’s stated corporate purpose “to power economic growth and lift people out of poverty” and the vulnerability of developing nations to climate change. The resolution will need to be approved at the company’s AGM in May.