• Home
  • Contacts

  • Business
  • Life&Culture
  • Hi-Tech
  • Sci-tech
  • Sports
  • World News
  • Health Care
  • National

BP links employee bonuses with climate progress in Paris Agreement alignment drive

  • by Patty Hardy
  • in Business
  • — Feb 3, 2019
Share:

The investor group comprises Hermes EOS on behalf of its stewardship clients, Legal & General Investment Management (LGIM), Aviva Investors, M&G Investments, Newton Investment Management, HSBC Global Asset Management, the Church Commissioners for England, APG - on behalf of the €399 Dutch civil service pension scheme ABP and other pension fund clients - and the Local Authority Pension Fund Forum, which represents United Kingdom public sector pension funds.

But BP urged investors to reject a tougher climate resolution brought by a Dutch shareholder activist group, which it said was too prescriptive.

BP has said that while it is prioritizing making its fuels more efficient for its customers, it can not commit to targets that go beyond its own operations. It said, however, that Royal Dutch Shell did agree late past year to set carbon emissions targets including those from customers. We are determined to advance the energy transition while also growing shareholder value, ' said Helge Lund, BP's chairman.

Based on BP's current disclosures it was not possible to evaluate the extent to which the company's investments in fossil fuel reserves or resources were consistent with the Paris goals, they added.

Meanwhile, BP also said it would reward its 36,000 employees, including senior management, for efforts to reduce greenhouse gas emissions.

Anil Ambani-led Reliance Communications to file for bankruptcy for debt resolution
On Friday, February 1, the beleaguered company went ahead with the decision after it failed to sell assets for paying back its lenders.

Pittsburgh TV station fires employee over 'known cheater' Tom Brady graphic
Well, it was worth it: the KDKA employee who added the "known cheater" graphic to a video featuring Tom Brady has been fired. One (now unemployed) control room staffer at a Pittsburgh TV station wishes he wasn't.

Feds make largest fentanyl bust in United States history
Another 395 pounds (180 kg) of methamphetamine, worth about $1.1 million, also was confiscated from the truck, officials said. Customs and Border Protection agents in Arizona seized a record breaking 254 pounds of fentanyl on Saturday.

"Investors are helping ensure climate change is firmly on the boardroom agenda, which is especially important for the oil and gas sector", Pfeifer said.

The resolution said: "Investors remain concerned that the company has not yet demonstrated that its strategy, which includes growth in oil and gas as well as pursuing low-carbon businesses, is consistent with the Paris goals".

The resolution would require BP to set out a business strategy that it considers, "in good faith", to be in line with the Paris goals to limit global temperature rise to well below 2C, and aim for 1.5C. "It's encouraging to see major companies such as BP moving in the right direction". "The decision by the BP board to support the resolution shows that this is a priority for the company and builds on progress to date, such as setting best in class methane intensity targets".

Shell, for example, said previous year that it would start linking executive pay to short-term carbon emissions targets in 2020 after coming under pressure from shareholders including the Church of England. To be aligned with Paris goals means adopting fundamental changes in the way business is done across the full scope of its activities - including reducing operational emissions, invested emissions, and product emissions.

"BP needs to follow its announcement with concrete, bold action". The group joins a growing list of oil giants obliged to defer to investor pressure on climate change.

Share:

IN CASE YOU MISSED IT

  • Rams Superstar Invites Team Janitor And Son To Attend The Super Bowl
  • Rudy Gobert Gets Emotional Discussing NBA All-Star Game Snub
  • In 2018, AWS delivered most of Amazon's operating income
  • YOU MAY ALSO LIKE...

    • Woman kicked off plane after shocking act during drunken rage 2/19/2019
    • Honda to shut United Kingdom plant, imperiling 3,500 jobs 2/19/2019
    • Flights cancelled as Flybmi airline collapses - Flybe move to stop confusion 2/18/2019
    • RBI decides to pay Centre interim dividend of Rs 28,000 crore 2/18/2019
    • Amazon Pull Out From New York the Result of Community Activism 2/18/2019
    • Moses Lake, Wenatchee-area Payless ShoeSource stores to shutter 2/18/2019
    • Oil Rises as Aramco Said to Cut Output at Biggest Offshore Field 2/18/2019
    • Payless ShoeSource to close all stores, including those in Alaska, report says 2/18/2019
    • Former Renault boss Ghosn loses millions in compensation 2/15/2019
    • Amazon is buying home wi-fi startup Eero 2/15/2019

RELATED NEWS

Tottenham Mauricio Pochettino open to managing in Major League Soccer
Tottenham manager Mauricio Pochettino believes his side can one day be at the same level as Real Madrid . I am going to going to stick with the club until the end to help the club achieve all they want.
2/03/2019

Fresh search for plane carrying missing footballer Emiliano Sala to begin
Cardiff captain Sol Bamba and his Bournemouth counterpart Andrew Surman laid floral tributes on the halfway line before kick-off. The location has been based on the flight path before it lost radar contact, said Mr Mearns, a shipwreck hunter.
2/03/2019

How do Super Bowl teams’ defenses stack up?
The American Gaming Association expects a $1.3 billion betting increase from last season's Eagles win over the Patriots . Spread: PointsBet , William Hill and Westgate all list the Patriots as 2.5-point favorites in Super Bowl LIII.
2/03/2019

United States adds 304000 jobs in January amid govt shutdown
However, the figures include federal government employees who were not working or being paid for most of last month. Health care increased by 42,000. "I am right now planning our first family vacation in three years", she said.
2/03/2019

Blocked calls, long a mystery, went to longtime Trump family friends
Those rumors suggested that then-candidate Trump knew about the meeting with the Russian lawyer and lied about it: Again, False. I don't know about the rest of you but I get mysterious blocked calls all the time and I make calls to blocked phone numbers.
2/03/2019

Henry Slade stars for England
I don't want to get too excited just yet, and now this game is over it is how you build on it. We probably shaded them a bit in that area.
2/03/2019

Leave.EU and Arron Banks' insurance firm fined for illegal marketing
The campaigns involved the sending of over 1 million emails to Leave.EU subscribers without sufficient consent. He added: "Gosh we communicated with our supporters and offered them a 10% Brexit discount after the vote!"
2/03/2019

Reports Nissan could abandon X-Trail building plans 'deeply troubling'
Other Nissan models built at the Sunderland plant include the Qashqai, Juke, Q30, Note and the zero-emission electric Leaf. Around 6700 people work at Nissan in Sunderland and it employs thousands more in the supply chain.
2/03/2019

Eagles Reportedly Expected to Pick Up Nick Foles' $20 Million Option
The backup QB has starred in Wentz's absence the past two seasons, including their Super Bowl championship run previous year . But, Rapoport said, Philadelphia at that point could put the franchise tag on Foles and search for a trade partner.
2/03/2019

Brees wins Art Rooney Sportsmanship Award
Barkley also made a team-high 91 receptions for 721 yards, and his 2,028 yards from scrimmage led the NFL. Philadelphia Eagles defensive end Chris Long took home the 2018 NFL Walter Payton Man of the Year award.
2/03/2019

Hubble Captures Stunning New Dwarf Galaxy Close to the Milky Way
Astronomers have discovered a galaxy thought to be around 13 billion years old - almost as old as the universe itself. But Bedin 1 is special in several ways, according to the discovery team.
2/03/2019

Nolan Arenado, Rockies agree at $26M, most ever for arbitration eligible
Bryce Harper, who last year made $21.63 million in his final year of arbitration, is the only other player to top $20 million. Arenado will reportedly earn $26 million in 2019, a source told Ken Rosenthal of The Athletic .
2/03/2019

Sauber rebranded as Alfa Romeo for 2019 F1 season
The team withdrew from Formula 1 following the 1951 season, as they were unable to fund a auto for the 1952 season. The new campaign gets underway with the Australian Grand Prix on 17th March.
2/03/2019

U.S. fake university racket: Tracking devices fitted on Indian youths
The university has a.edu website set up with a physical address to a building on Northwestern Highway just south of 13 Mile. The indictment says the suspects through their operations allowed students to stay in the USA without proper visas.
2/03/2019

New E-Commerce Rules Jolt Amazon.com In India As Products Vanish
This is a problem for Amazon , which had been picking up stakes in offline Indian retailers to boost its market share. It also prohibits them from making deals with sellers that grants the marketplace exclusivity rights on the product.
2/03/2019

    • Top picks

      • IEA Says Venezuela Crisis Risks Disrupting Global Crude Market2/13/2019
      • Lottery winner claims jackpot wearing ‘Scream’ mask to hide identity2/13/2019
      • Upcoming US-China trade talk to focus on intellectual property rights2/13/2019
      • Activision Blizzard (ATVI) 4th Quarter Earnings: What to Expect2/12/2019
    • Weekly News

      • Jody Wilson-Raybould resigns from federal cabinet2/12/2019
      • Senior Tories tell May to steer clear of Brexit negotiations with Labour2/12/2019
      • A crypto exchange may have lost $145m after its CEO's sudden death2/11/2019
      • Canada adds 66,800 jobs in January, unemployment rate rises2/11/2019
    • Latest News

      • Ocasio-Cortez shocked to learn lobbyists pay others to stand in line2/15/2019
      • 5 injured after turbulence forces Seattle-bound flight to land in Reno2/15/2019
      • JP Morgan Launching First-Ever US Bank-Backed Cryptocurrency2/15/2019
      • Amazon won't build headquarters in NY after political opposition2/14/2019
    • Home
    • Contacts

    Monday 18 February 2019

    © 2019 . ALL RIGHTS RESERVED.