A week before the AGM on May 12th, some investors in BP are still debating why they should vote FOR shareholder climate resolution 24 and AGAINST inhouse climate resolution 3.
In case you haven’t decided yet, please take the following points into account:
- Without a majority vote FOR the Follow This climate resolution (24), BP will continue its current strategy and will not decrease emissions to secure a 1.5°C pathway this decade; another year of the “rapidly closing window” (IPCC) will be lost.
- BP will interpret votes FOR its inhouse climate resolution (3) as support for its current strategy (like Shell does with its 2021 voting results*).
The CA100+ Company Benchmark is crystal clear: BP has NO medium-, and short-term emission reduction targets (criteria 3.3 and 4.3) and NO Capital expenditure plans aligned with the goal of limiting global warming to 1.5°C (criteria 6.1b).**
Thank you in advance for your votes to achieve the goal of the Paris Accord. More reasons for a vote in favour of the Climate Resolution can be found below.