BP's climate plan faces opposition from investors

MaticHoleFiller · 2026-04-08T02:59:33+00:00

BP faced opposition from the proxy advisor ISS ahead of its annual general meeting, due to its plan to cancel early climate information disclosure commitments. ISS said the company’s rationale was insufficient and also raised concerns about proposals for the virtual shareholders’ meeting. Some European investors are also putting pressure on the company.

MaticHoleFiller

2026-04-08 02:59:33

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Before BP’s annual general meeting, the company faced pushback. Proxy advisory firm ISS recommended that shareholders vote against the company’s plan to amend its climate information disclosure.

At the heart of the dispute is BP’s plan to revoke two earlier report commitments made in 2015 and 2019. The company said that a newer standardized framework performs better and makes comparisons across the industry easier. But ISS does not accept this argument. The firm said this approach is unusual for the UK and that the reasons for abandoning those disclosures are fundamentally not sufficient.

There are also more issues. ISS opposed a proposal that would allow BP to hold its shareholder meeting solely online, raising broader governance concerns. At the same time, a small portion of European investors—together holding less than 0.3%—are increasing pressure on the company’s climate stance.

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