BP (NYSE:BP) shareholders simply re-elected Chair Helge Lund and soundly rejected a decision by activist traders looking for extra aggressive carbon discount targets, on the firm’s annual common assembly in London on Thursday.
Provisional voting outcomes from the AGM that was disrupted within the early going by protesters indicated 17% of shareholders backed the Comply with This decision calling for stricter alignment with the Paris local weather settlement, up from 15% final yr however down from 21% in 2021.
A number of U.Ok. pension funds had pledged to vote towards Lund, however greater than 90% backed his reappointment as Chair, though 97% had voted their assist final yr.
BP (BP) introduced in February it was scaling again its dedication to chop oil and fuel manufacturing by 40% by 2030 from 2019 ranges and would as a substitute goal a 25% discount in addition to a 20%-30% decline in Scope 3 emissions by 2030 instead of its earlier objective of a 35%-40% lower.
The corporate asserted on the assembly that it’s “compliant” with the Paris accord by its emission discount targets and by investing in lower-carbon types of power equivalent to hydrogen and wind.
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