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BP shareholders back more disclosure on climate change risks

Thu, 16th Apr 2015 14:05

LONDON, April 16 (Reuters) - BP shareholders havevoted overwhelmingly in favour of a resolution that means theoil major will test its business strategy against climate changerisks from next year, making it one of the first global oilcompanies to disclose such details.

A total of 98 percent of shareholders in a vote at the oilmajor supported the plan, with less than two percent opposing.

"This resolution is about disclosure, it's not about settingtargets," said BP Chairman Carl-Henric Svanberg on Thursday atthe company's annual general meeting in London.

A number of shareholders at the meeting, including arepresentative of the $300 billion California Public EmployeesRetirement System, said voting through the resolution wasfundamental to them retaining BP stocks. (Reporting by Karolin Schaps and Dmitry Zhdannikov; Editing byMark Potter)

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