Financial Times | 9 december 2018
An activist shareholder group will target BP at the oil major’s annual meeting next year over its response to global warming, escalating a campaign that has forced rival Royal Dutch Shell to commit to reducing its carbon emissions.
A Netherlands-based group called Follow This filed a shareholder resolution at BP this month, calling for the company to set hard targets for cutting carbon emissions in line with the Paris climate agreement, including emissions of third parties, such as cars that burn BP’s petrol and diesel.
The investor group said it would also file similar resolutions at Chevron and ExxonMobil this month, unless other shareholders did so. FollowThis was set up to put pressure on fossil fuel companies over their links to climate change. Its members include 4,300 retail shareholders, whose shares are used to file resolutions.