Big Oil Sees Climate Pressure Ease Off as Energy Crunch Bites
- Investor support for Follow This resolution falls at BP’s AGM
- Shell shareholders will vote on same climate proposal May 24
Bernard Looney
Photographer: F. Carter Smith/Bloomberg
This article is for subscribers only.
Climate resolutions are struggling to gain traction at Big Oil’s annual general meetings this year as growing fears of a global supply crunch put environmental issues on hold.
Dutch activist shareholder group Follow This saw support for its climate resolution at BP Plc’s AGM drop to 15% on Thursday from 20% a year earlier. It attributed the result to the “energy supply crisis” following the meeting in London. Shell Plc investors will vote on the same proposal on May 24.