climate group

BP chair Albert Manifold faces shareholder rebellion over excluded climate resolution

BP chair Albert Manifold excluded a shareholder resolution from Dutch investor group Follow This from Thursday's annual meeting, prompting significant shareholder rebellion. The resolution would have required BP to describe how it would protect shareholder value if oil and gas demand falls. BP received only 47% support for a climate reporting resolution and 18% voted against Manifold's re-election. Legal & General Investment Management cited the resolution exclusion as a reason for voting no. Shell took a different approach, allowing a similar resolution.