LONDON: 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…
