BP’s investors are pushing it to act on climate change, but can they push hard enough?
At BP’s annual meeting today, investors holding billions in shares, including six of the largest fund managers in the U.K., asked the company to adopt a climate resolution in line with the goals of the Paris climate agreement. The resolution passed with 99% support.
It’s a meaningful moment–the 58 investors that filed the resolution own nearly 10% of the company, and represent the largest group so far to support this type of resolution–but it also doesn’t go far enough, activists say. “I think that given where the world’s scientists are telling us we’re at with climate change, we can’t be tinkering around the edges and making small, incremental progress with companies like BP,” says Ben Cushing, a campaigner from the Sierra Club who attended the shareholder meeting with an Alaskan activist who asked about the company’s plans to drill in the Arctic National Wildlife Refuge. During the meeting, other activists protested outside; some inside the meeting started shouting, “This is a crime scene,” and were thrown out. Read Full Article - Fast Company, May 21, 2019