BP board suffers triple climate rebellion from shareholders
Get the Energy newsletter
Daily energy & climate — solar, EVs, oil, the policy fights and tech bets shaping the transition. Free.
- BP saw more than 50% of voting shareholders reject its plan to eliminate existing climate reporting and replace in‑person AGMs with online‑only events.
- Albert Manifold faced an 18% vote against his re‑election as chair, the first challenge since taking the role less than a year ago.
- LGIM joined proxy adviser Glass Lewis in opposing the climate‑reporting cuts, with Lewis holding Manifold accountable for excluding the Follow This resolution.
- Follow This demanded BP explain how expanding oil and gas output aligns with a decarbonising world, a resolution that was blocked by the board.
- Meg O’Neill became BP’s first external‑hire CEO and first woman to lead a major oil firm, inheriting pressure to revive the company after a stalled green agenda.
Why it matters: Investors, led by LGIM and Glass Lewis, forced BP to keep climate disclosures, preserving transparency for shareholders; the board’s defeat weakens Manifold’s authority and will pressure the firm to adjust its oil‑production targets, affecting its market valuation.
Ask SkimNews
