06 Feb '15, 5pm

Now BP and Shell will consider the cost of climate change when doing business

BP will support a shareholder resolution calling on the company to release information about how climate change could affect its business. It’s the second big win for climate-conscious investors this year: Shell agreed to support a similar resolution last week. Both the Shell and BP resolutions were submitted by a coalition of activist investor groups representing more than 150 major shareholders in Europe and America, including the U.K.’s Environment Agency and the Church of England , for a combined $300 billion in assets. The resolution asked Shell and BP to reduce emissions, to invest in renewables, to provide transparency about bonuses that reward “climate-harming activities,” and to test how their business models would hold up if governments were to take action to limit global warming to 2 degrees Celsius. These steps are good business, the resolution argues, “given t...

Full article: http://grist.org/news/now-bp-and-shell-will-consider-the-...

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