Shareholder resolution to be voted on at the company’s annual meeting next weekCity investors push for BP to be more open on climate change policyA coalition of major City investors have emerged as key players in forcing BP to be more transparent in how it fights climate change. The resolution is thought to represent the strongest level of support for a climate-related resolution at a major publicly listed company. Under the Climate Action 100+ resolution, BP will have to provide a detailed strategy on how it will comply with the Paris agreement, the global deal reached in 2015 on climate change that aims to limit global warming to only 1.5ºC above pre-industrial levels. Steve Waygood, chief responsible investment officer at Aviva Investors, described the resolution as only the first step in tackling the climate emergency. BP has opposed another resolution, co-ordinated by the campaign group Follow This, which would force the company to set targets to reduce total emissions from BP fuel.

Source: The Guardian May 13, 2019 22:52 UTC