BP, activist shareholder to jointly draft climate resolution

BP and climate-focused Follow This have agreed to jointly draft a shareholder resolution on BP’s climate goals for its 2021 annual general meeting (AGM), they said in a statement on Friday.

The move comes after BP Chief Executive Officer Bernard Looney outlined shortly after taking office in February plans to reduce greenhouse gas emissions from BP’s own oil and gas production to net zero by 2050.

Follow This, which owns minor stakes in companies which enables it to file shareholder resolutions, has also filed shareholder resolutions on climate with U.S. giants ExxonMobil, Chevron and their European rivals Royal Dutch Shell and Equinor.

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