BP to reveal climate change impacts

2015-04-17 09:23

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

London - BP shareholders voted overwhelmingly on Thursday to publish regular updates on how its strategies were affecting climate change from next year, making it one of the first global oil companies to disclose such details.

BP shareholders (98%) supported the plan proposed by a group of investors and non-governmental organisations at its annual general meeting in London.

"This resolution is about disclosure, it's not about setting targets," said BP Chairperson Carl-Henric Svanberg at the event. BP did not specify what shape the disclosures will take.

A number of shareholders at the meeting, including a representative of the $300bn California Public Employees Retirement System, said voting through the resolution was fundamental to them retaining BP stocks.

Some of BP's top 20 shareholders including Norway's sovereign wealth fund, Schroders and AXA Investment Management, had declared their support ahead of the vote.

"I suspect that these will be the first of many board-supported shareholder resolutions on this topic during the critical 2015-20 climate policy making window," said Helen Wildsmith, head of ethical and responsible investment at CCLA, who lead the group's engagement with BP.

Outside the meeting, protesters displayed banners and posters against BP's involvement in Canada's tar sands oil exploration.

Shareholders at BP rival Shell will vote on the same resolution at the oil firm's annual general meeting in The Hague on 19 May.

Read more on:    bp  |  climate change

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Inside News24


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.