Follow This and investors target BP push to retire climate resolutions

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🗞️ Driving the news: Investor campaign group Follow This and several institutional investors are challenging BP over its move to retire key shareholder climate resolutions.

🔭 The context: BP has proposed withdrawing two climate-related shareholder resolutions that had previously pushed the company to strengthen its decarbonisation strategy
• The decision came after BP excluded a new investor proposal that sought disclosure of financial risks linked to declining global demand for oil and gas

🌍 Why it matters for the planet: Shareholder climate resolutions have become a critical mechanism for investors to pressure fossil fuel companies to align with climate targets and manage transition risks
• The dispute highlights growing tensions between investors seeking stronger climate commitments and energy companies reassessing their transition strategies amid shifting energy markets

⏭️ What’s next: Follow This and allied investors will likely continue pressing BP to keep climate-related resolutions on the ballot and to maintain transparency around transition risks tied to future fossil fuel demand

💬 One quote: Follow This said the retirement of the resolutions would weaken investor oversight on BP’s climate strategy

📈 One stat: The contested proposal focused on the financial risks associated with declining oil and gas demand in a global energy transition

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