Shareholders in revolt

Climate rebels stir at BP general meeting

Aandeelhouders vragen hoe BP winst wil creëren in een wereld waar de vraag naar olie en gas daalt. Shutterstock, 2026

BP shareholders revolted at the British oil giant’s latest annual general meeting. They opposed the plan to scrap climate reporting.

It was the first general shareholders’ meeting since the new board took office at BP, and it was immediately met with a rebellion. More than 50 per cent of those entitled to vote rejected the plan to scrap climate reporting, and replace the shareholder meeting – more often the scene of climate protests these days – with an online event. Eighteen per cent of shareholders also voted against the re-election of chairman Albert Manifold, less than a year after he took office. Protesters denounced his intention to scale back BP’s reporting around climate, and that he had blocked a resolution by activist shareholder group Follow This.

So while Manifold may stay on, the board is biting the sand around the other two intentions. “Actually, the question is simple,” Follow This founder Mark van Baal said: “how does BP intend to create value for shareholders while demand for oil and gas is declining? BP would rather engage with its shareholders than answer that question.”

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This article was automatically translated from the Dutch language original to English (British).

Author: Matthieu Van Steenkiste

Source: MobilityEnergy.com

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