- BP’s AGM is yet again a focal point for sustainability-minded investors
- Investors reported to show support for climate disclosures and Paris alignment, as oil and gas major fails to garner support to revoke 2015 and 2019 resolutions
- 18% of investors reportedly vote against BP Chair Albert Manifold, including those expressing governance concerns on excluded climate resolution
- 25% of investors reported to support ACCR request for BP to disclose more on the link between oil and gas investment and shareholder value
Joshua Sherrard-Bewhay, ESG analyst, Hargreaves Lansdown:
“Over the past few years, we’ve seen highly material fluctuations in the transition strategies of oil and gas companies. BP has been right at the top of this list because of the scale of its changes across climate targets, CAPEX and oil and gas production forecasts.
For this reason, BP has attracted heightened attention from sustainability-focused investors during proxy voting cycles.
Today, reports suggest investors decided to reject BP’s proposal to revoke former shareholder resolutions from 2015 and 2019, relating to climate reporting and strategic alignment with the goals of the Paris Agreement.
This shows that appetite is still strong for Paris alignment and climate disclosures across the BP shareholder base.
18% of investors have also been reported to vote against the election of BP Chair Albert Manifold, including those expressing concern with the exclusion of a climate resolution from the 2026 ballot. The FollowThis proposal requested disclosure on how BP would create shareholder value under a scenario of declining demand for oil & gas.
Whilst Manifold has reportedly been re-elected, this has raised governance concerns for some BP shareholders. BP made clear that the resolution was excluded from the ballot as it was not legally valid in their view.
Around 25% of investors are also reported to have supported ACCR’s resolution requesting clarity on how oil & gas exploration creates long-term value for shareholders.
We surveyed Hargreaves Lansdown investors in 2025, and most respondents expressed comfortability in investing in oil and gas. Equally, 35% of those surveyed want engagement on climate change to be prioritised across the board.
These findings signal that a fair portion of retail investors expect active engagement with oil & gas companies on climate risk.”
