Guardian | Proxy adviser Glass Lewis recommends investors oppose BP’s new chair after the board excluded a Follow This climate resolution from the upcoming AGM.
BP shareholders should vote against its new chair over his decision to exclude a climate resolution from the company’s next annual meeting, a major proxy adviser has recommended.
Glass Lewis has advised investors to vote against Albert Manifold, who has been in his post for just six months. The institution, which advises some of the world’s biggest investors, said its recommendation was based on BP’s decision to exclude a proposal to share its longer-term strategy under scenarios of declining oil and gas demand.
The resolution was tabled by Follow This and would have prompted the company and its shareholders to discuss the issue at BP’s annual general meeting on 23 April.
Glass Lewis said the board’s decision to exclude the resolution “further raises questions about transparency, shareholder communication and responsiveness to shareholder concerns”.
“The concerns among shareholders are larger now than they were in 2025,” said Mark van Baal, the CEO of Follow This, who argued it was “conceivable” that more than 25% of shareholders could vote against the resolution, which would be enough to block it.
