1. BP Board Will Back Shareholder Push to Align Goals with Paris Climate Agreement

    BP Board Will Back Shareholder Push to Align Goals with Paris Climate Agreement

    Oil major BP PLC’s board said Friday it will back a shareholder resolution at its annual meeting this year that would force the company to align its business strategy with the goals of the Paris Agreement on climate change. The move comes after shareholders passed a motion in 2015 that asked the company to improve its corporate reporting and transparency on climate change-related risks...

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    1. This is a welcome step by BP, which will hopefully lead to more action on climate change by others in the oil and gas sector.
    2. We are encouraged that BP will take this positive step to align its business strategy with the goals of the Paris Agreement.
    3. While it will be for BP to set out the process and methodology, investors will be keen to ensure they are sufficiently robust and reliable.
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