BP Agrees to Draft Climate Change Shareholder Resolution

BP said it would work on the shareholder proposal with Follow This, a group of investors in oil-and-gas companies that push major oil companies to fall in line with the Paris Agreement. In response, Follow This said it has withdrawn its climate change resolution that would have been voted on this year by BP’s shareholders.

“We believe that this goal will require a radical shift in BP’s spending away from fossil fuels to renewables,” said Mark van Baal, founder of Follow This. “We thank the investors that voted for our climate resolution that encouraged this step in 2019.”