City investors push for BP to be more open on climate change policy

A coalition of major City investors have emerged as key players in forcing BP to be more transparent in how it fights climate change.

 Seven of the top 20 BP shareholders co-filed the resolution. 

Investors holding just under a tenth of all BP shares, equivalent to more than £10bn in value at Monday’s prices, put their names to the shareholder resolution, to be voted on at the company’s annual meeting next week, the Climate Action 100+ investor group revealed on Tuesday.

The resolution is thought to represent the strongest level of support for a climate-related resolution at a major publicly listed company.

Under the Climate Action 100+ resolution, BP will have to provide a detailed strategy on how it will comply with the Paris agreement, the global deal reached in 2015 on climate change that aims to limit global warming to only 1.5ºC above pre-industrial levels.

Read the story from The Guardian by Jasper Jolly - “City investors push for BP to be more open on climate change policy.”