BP Backs Shareholder Climate Proposal
WASHINGTON (February 1, 2019)—BP said today that it will support a shareholder proposal calling on the company to set out a business strategy consistent with the goals of the Paris climate agreement.
Below is a statement by Kathy Mulvey, the director of the Fossil Fuel Accountability Campaign at the Union of Concerned Scientist.
“For BP’s commitment to be meaningful and aligned with science, its plan must include bringing global warming emissions from its operations and from the use of its products to net zero by midcentury. If BP fails to set specific targets for dramatically reducing emissions resulting from the use of its products and does not bring its lobbying into line with its stated positions on climate change, this pledge is window dressing and shareholders should call foul.
“Building on last December’s announcement of steps Shell will take to advance the Paris climate agreement, BP’s response ups the pressure on ExxonMobil and Chevron, whose 2018 climate risk reports assumed the world will continue to burn oil and gas at a rate that would blow past the Paris agreement's global temperature targets.”