Two years after BP and Shell shareholders resoundingly passed resolutions requiring the oil majors to factor climate change risks into their corporate strategy and accounting, the two companies are disclosing no more than bare minimum, a new report has found.
The report, published by responsible investment nonprofit ShareAction – which was involved in the push to pass these climate resolutions in 2015 – found that while they have taken the necessary steps to meet their new disclosure commitments, the two oil companies are failing to plan for a more rapid transition to a low-carbon economy.
As ShareAction’s report argues, the companies may be publicly supporting the Paris Agreement, but their actions are not living up to their words.
