- Jewish school in Canada hit by gunfire for second time
- With medical report Harris seeks to play health card against Trump
- China-EU EV tariff talks in Brussels end with 'major differences': Beijing
- Buried Nazi past haunts Athens on liberation anniversary
- Harris to release medical report confirming fitness for presidency: campaign
- Nobel prize a timely reminder, Hiroshima locals say
- China offers $325 bn in fiscal stimulus for ailing economy
- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
BP faces angry shareholders over climate plans
Energy giant BP on Thursday faces a shareholder revolt over its decision to slow its energy transition, with activist investors promising to block the re-election of the head of the board of directors.
Some of Britain's biggest pension funds have warned that they will oppose the renewal of Helge Lund's mandate at the annual general meeting in London.
Activist shareholders' group Follow This, which wants "Big Oil to go green", has also put forward a resolution calling for BP to be more ambitious in its climate objectives.
BP in February announced that it expected to boost its profits between now and 2030 by investing more in both renewable energy and hydrocarbons, slowing the pace of its transition.
Environmental group Greenpeace, which only last year was calling BP "the most ambitious" of the global majors, criticised the plans, accusing them of bowing down to investors and governments.
Five pension funds have announced that they will vote against Lund's re-election, according to British media.
Among them is Nest, which is also backing Follow This's resolution.
"If BP continues on this path we have serious concerns about them reaching their net zero goal and the long-term success of the company," it said.
"We want to see them investing more in low-carbon solutions and renewables, instead of new oil and gas sites."
Brunel, another pension fund, said it would vote against Lund's re-election to underline its concern about BP's "changes in strategy".
Follow This believes that "a net-zero by 2050 aim is insufficient without a Paris-aligned aim for 2030", referring to the 2016 agreement to limit global warming to below 2C and if possible 1.5C above pre-industrial levels.
"We recognise that some shareholders and other stakeholders may have different perspectives on the decisions we take," the BP board said in response to the resolution.
"BP has already laid out a strategy, and a net-zero ambition and aims, that the board considers to be collectively consistent with the Paris goals."
The NGO Fossil Free London has promised to disrupt the AGM in protest at the energy transition strategy.
Friends of the Earth wants BP and its fellow energy giants taxed more on their windfall profits from the hike in energy prices caused by the war in Ukraine, to help reduce soaring household bills.
S.F.Lacroix--CPN