BP Will Boldly . . . Support Plan To Report On How It Might Respond On Climate Blahblahblah

[hatrack]

BP will back a shareholder push for it to begin reporting on how its strategy fits with the Paris Agreement’s goals, the British oil and gas major said on Friday.

The Climate Action 100+ group of more than 300 investors, who hold around $32 trillion in assets, plan to present the shareholder resolution at BP’s annual general meeting in May.

The resolution would require BP to set out a business strategy that it considers, “in good faith,” to be in line with the Paris goals to limit global temperature rise to well below 2°C, and aim for 1.5°C.

The company would also have to evaluate whether each new material capital investment is consistent with the climate agreement. And it would have to set out its anticipated levels of investment in oil, gas, and other energy technologies, its goals for reducing operational greenhouse gas emissions, the estimated carbon intensity of its energy products, and how its targets are linked to executive pay.

EDIT

https://www.desmogblog.com/2019/02/01/bp-backs-shareholder-call-align-its-strategy-paris-climate-goals

[Autumn]

1. A "group of more than 300 investors, who hold around $32 trillion in assets"

I heard a phrase, corporate tyranny. For some reason it seems to fit.

"require BP to set out a business strategy that it considers, “in good faith,” That's big of them.