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Share Price: 488.15
Bid: 487.80
Ask: 488.10
Change: 2.90 (0.60%)
Spread: 0.30 (0.062%)
Open: 485.25
High: 488.80
Low: 485.20
Prev. Close: 485.25
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Greenpeace blockades BP's global HQ

Mon, 20th May 2019 10:51

(Sharecast News) - The global headquarters of BP has been shut down by Greenpeace, after the campaigning charity blockaded the oil giant's west London office.Greenpeace said that volunteers arrived at the site in St James's Square at 0300 BST. Using specially designed containers weighing several tonnes each, they have blockaded the building's five main entrances, preventing staff from entering. Climbers have also abseiled down the building, writing "climate emergency" on the windows.The charity is calling on BP to immediately end all oil and gas exploration, or wind down its operations and go out of business if it cannot. Paul Morozzo, one of the activists, said in a statement: "BP is fuelling a climate emergency that threatens millions of lives and the future of the living world. The science is clear - we must stop searching for new oil and gas if we want a liveable planet. BP must clean up or clear out."BP, which was set to hold its annual general meeting on Tuesday, called on police to try and remove the protestors.In a statement, it said: "We welcome discussion, debate, even peaceful protest on the important matter of how we must all work together to address the climate challenge."But impeding safe entry and exit from an office building in this way is dangerous and clearly a matter for the police to resolve as swiftly as possible."A spokesperson for the oil giant added that employees were working either remotely or from other offices while the situation was resolved. More than 500 people were based at office, including board and executive management.According to the BBC, police were present at the site but no arrests had been made.There has been growing investor disquiet over oil and gas firms and the way they have responded to their role in climate change. Earlier this year, it emerged that a number of shareholders - including Hermes EOS, Legal & General Investment Management and M&G Investments - were planning to file a resolution at BP's AGM demanding greater transparency.BP is supporting the resolution, and has agreed to issue reports detailing how spending plans and its broader business strategy align with the Paris climate accord. It will ask all shareholders to back it at the AGM, which is being held at the Aberdeen Exhibition and Conference Centre, Scotland.However, Morozzo said BP was not going far enough."For too long, BP and the oil and industry have paid lip service to climate action while lying and lobbying against it behind the scenes, and spending billions scouring the world for more oil and gas. The reality is that BP's whole business plan is a heavy bet against our hopes to avoid a climate catastrophe and must change," the activist said.Greenpeace said the demonstrators occupying the containers had enough food and water to keep the building closed for "at least" a week.
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