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Oil & Gas

BP takes hardline against activist resolution on emissions as UK pension funds apply pressure

BP has decided to push back against a group of climate-focused activist investors, as well as some leading UK pension funds, over demands that the UK supermajor strengthen its commitment to tackling greenhouse gas emissions.

BP’s board on Monday recommended that investors vote down a shareholder resolution calling for more emissions cuts filed by a Dutch activist group Follow This when the company holds its annual general meeting on April 27.

Follow This wants the oil company to align emissions targets for 2030 to include full Scope 3 emissions in line with the Paris climate agreement.

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