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Shareholder Revolt

All articles tagged with #shareholder revolt

business2 years ago•3 min saved

Shell faces shareholder revolt and protests over climate plans.

Shell's annual general meeting is expected to be contentious, with climate-focused investors seeking to increase pressure on the energy major after a run of record profits. Dutch activist investor Follow This has tabled a resolution calling on Shell to align its climate targets with the Paris Agreement and commit to absolute carbon emissions cuts by 2030. Dutch pension managers MN and PGGM, both Shell shareholders, have endorsed the resolution. Shell, which is aiming to become a net-zero emissions business by 2050, has recommended shareholders vote against the motion.

via CNBC|

#business #climate-change #fossil-fuels

business2 years ago•3 min saved

BP's Q1 profits dip on weaker commodity prices, slows share buybacks.

BP reported stronger-than-expected Q1 profits of $4.96 billion, up from the previous quarter but down from the exceptional levels of 2022. The company announced a further share buyback of $1.75 billion and expects to deliver share buybacks of around $4 billion per year. BP's dividend remained unchanged from the previous quarter at 6.61 cents per ordinary share. The company's net debt decreased to $21.2 billion from $27.5 billion YoY. BP has faced criticism for scaling back its emission reduction targets and a shareholder group of 17% voted in favor of a resolution calling for the company to align its 2030 emissions reduction targets with the Paris Agreement.

via CNBC|

#bp #business #emission-reduction-targets

business2 years ago•3 min saved

Investors Rebel Against BP and Woodside's Climate Targets

BP is facing a shareholder revolt at its annual general meeting over its decision to scale back its emission reduction targets. Dutch activist investor Follow This has tabled a resolution calling on BP to align its climate targets with the Paris climate accord and commit to absolute carbon emissions cuts by 2030. Some of the UK's biggest pension funds, including the National Employment Savings Trust and the Universities Superannuation Scheme, have indicated they will support the resolution. BP has urged shareholders to oppose the resolution, saying it encroaches on the board's responsibility and accountability for the firm's strategy.

via CNBC|

#bp #business #climate-targets