BP will face pressure at a meeting next week to set tougher targets to combat cl...
LONDON - BP will face pressure at a meeting next week to set tougher targets to combat climate change, the latest signal from investors that they want the oil and gas industry to do more to clean up its act.
The motion, proposed by BP and a group of 58 shareholders holding 10 percent of its shares, known as Climate Action 100+, is expected to pass at BP’s annual meeting in Aberdeen. While the resolution stands little chance of passing, even those not backing it still want BP to step up its commitments. Exxon Mobil, the world’s biggest listed energy firm, has also been pushed by some investors to set emissions targets, although the regulator ruled in April that it did not have to put it to shareholders’ vote.
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