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BP Investors Back Climate-Change Proposal Amid Activist Pressure

  • Company to report on compatibility of business with Paris deal
  • Second, more stringent climate filing rejected by shareholders
Bloomberg business news
What the U.S. Departure Means for the Paris Agreement

BP Plc investors voted overwhelmingly in favor of the oil major reporting in detail about how its investments are compatible with the Paris climate accord.

The mandate is a clear signal for both the company and the industry to come up with stronger green strategies as they’re put under increasing pressure by activists and investors to cut emissions and play a bigger part in the energy transition. Before BP’s annual general meeting in Aberdeen, Scotland, on Tuesday, one large shareholder said conversations with the company on climate were moving too slowly, and that it was slipping behind competitors.