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BP shareholders defeat climate proposals as pressure for change mounts
Wed, 12th May 2021 20:26
(Alliance News) - BP PLC late Wednesday said it would engage with shareholders on strategy after a proposal calling for greater action on climate change was defeated at its annual general meeting.
BP said 79% of investors voted against a resolution proposed by shareholder group Follow This, which encourages oil companies to reduce their emissions. BP noted 21% of votes were in favour of the proposal.
The Dutch activist group sought to make BP set targets that are aligned with the Paris climate goals, in opposition to a recommendation by the board, but votes fell short of the 75% threshold needed to pass.
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Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;