Investor groups challenge BP and Shell on climate change

A coalition of more than 150 investors including Sarasin & Partners, major pension funds, and local authorities have urged oil majors Shell and BP to improve their business practices in relation to climate change.

The shareholder collective this week filed a resolution requiring BP to disclose risks associated with climate change. The same group, which includes investors, asset managers, and insurers, filed a similar resolution with Shell last month. The shareholders are calling upon BP and Shell to transparently: • Stress-test their business models against the requirement to limit global warming to 2ºC, as agreed by governments at the UN Climate Change Conference in 2010 • Reform their bonus systems so they no longer reward climate-harming activities • Commit to reduce emissions and ...