BlackRock: BP should pass shareholder resolutions as soon as possible to reduce carbon emissions

BlackRock does not approve of the requirements of the BP board of directors and hopes that the company can adopt shareholder resolutions on environmental protection in a deeper and faster manner.

It is reported that although the resolution was rejected at BP’s annual shareholder meeting earlier this month, its 21% approval rate is also regarded as a signal that more and more investors want the chief executive Officer Bernard Looney accelerated his plan to reduce BP’s emissions by 40% by 2030 and reach net zero by 2050.

BlackRock stated that it supports BP's climate strategy, but also supports the resolution of different opinions, "to reiterate our expectation that BP will gradually improve its greenhouse gas emission reduction targets." At the recent Total shareholders meeting and the Royal Dutch Shell (RDS.A.US) shareholder meeting earlier this month, BlackRock voted in favor of corporate measures for the energy transition strategy.