(Adds details, background, quotes)
LONDON, April 16 BP shareholders voted
overwhelmingly on Thursday to publish regular updates on how its
strategies were affecting climate change from next year, making
it one of the first global oil companies to disclose such
Ninety-eight percent of BP shareholders supported the plan
proposed by a group of investors and non-governmental
organisations at its annual general meeting in London.
"This resolution is about disclosure, it's not about setting
targets," said BP Chairman Carl-Henric Svanberg at the event. BP
did not specify what shape the disclosures will take.
A number of shareholders at the meeting, including a
representative of the $300 billion California Public Employees
Retirement System, said voting through the resolution was
fundamental to them retaining BP stocks.
Some of BP's top 20 shareholders including Norway's
sovereign wealth fund, Schroders and AXA Investment Management,
had declared their support ahead of the vote.
"I suspect that these will be the first of many
board-supported shareholder resolutions on this topic during the
critical 2015-20 climate policy making window," said Helen
Wildsmith, head of ethical and responsible investment at CCLA,
who lead the group's engagement with BP.
Outside the meeting, protesters displayed banners and
posters against BP's involvement in Canada's tar sands oil
Shareholders at BP rival Shell will vote on the
same resolution at the oil firm's annual general meeting in The
Hague on May 19.
(Reporting by Karolin Schaps and Dmitry Zhdannikov; Editing by
Mark Potter and Andrew Heavens)