Climate Changed
Sharp Exchanges Highlight BP Fears of Climate Legal Jeopardy
- CEO Bob Dudley warns of risk of class-action lawsuits
- Oil major believes climate change is a “global issue”
Oil floats in the Gulf of Mexico near Orange Beach, Alabama, U.S., on Friday, June 18, 2010.
Photographer: Kari Goodnough/Bloomberg
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After paying more than $65 billion in legal costs for the Deepwater Horizon catastrophe, BP Plc is wary of the risk of lawsuits related to climate change.
Chief Executive Officer Bob Dudley raised the topic of class-action lawsuits twice during the company’s annual general meeting in Manchester, England on Monday, saying he wouldn’t disclose certain climate targets, or even answer some questions from activist investors, because the risk of legal action in the U.S. was too high.