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01 Feb 2019 | 09:24

BP to show how business aligns with Paris climate deal

BP said Friday it would support a call from a group of institutional investors requesting the company broaden its corporate reporting to describe how its strategy remained consistent with the goals of the Paris Agreement.

The resolution, tabled by investor participants of the Climate Action 100+ initiative, would be put forward to a shareholders at the company's annual general meeting in May later this year, BP said.

BP said that its strategy was consistent with the Paris goals, which sought to rapidly reduce greenhouse gas emissions in the context of sustainable development and eradicate poverty, since it was agreed in 2015. 'BP is committed to helping solve the dual challenge of providing more energy with fewer emissions. We are determined to advance the energy transition while also growing shareholder value,' said Helge Lund, BP's chairman. 'The additional reporting specified in the resolution will build on BP's history of progressive action in this area.' We welcome the constructive engagement with Climate Action 100+ and, after careful consideration, have decided to support this resolution.' At 9:24am: (LON:BP.) BP PLC share price was -0.25p at 519.85p

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