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NewsShareholder revolt at BP AGM over climate and governance
Early reports suggest investors have voted against management on two key proposals
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AnalysisBP ballot row: a test for UK shareholder democracy?
Will the oil and energy giant get away with blocking a climate shareholder resolution?
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NewsBorder to Coast and Railpen announce plans to vote against BP
UK pension investors flag concerns about transparency and governance at the oil and gas major BP
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NewsLAPFF signals further pushback against BP ahead of AGM
LAPFF is recommending a vote against the BP chair and other management-backed AGM items over transparency and governance concerns
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NewsCo-filers decide on protest vote at BP over blocked shareholder resolution
Follow This and 12 co-filers plan to vote against a board resolution about climate disclosures because BP is not tabling its shareholder resolution at its forthcoming AGM
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NewsAsset owners push BP on capital spending discipline
UK local authority pension funds urge oil giant to justify increased exploration and capex amid warnings its future projects are increasingly uncompetitive
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NewsBP accused of breaching shareholder rights over rejected climate resolution
UK pension funds and investors managing €1trn in assets accuse BP of undermining shareholder rights after refusing to circulate a climate resolution at AGM
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AnalysisIPE ESG Briefing: BP fast becomes proxy voting season’s key flashpoint
Plus: research from OxProx shows that ‘asset owners show materially greater support for ESG and shareholder-initiated proposals’
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NewsLocal authority forum calls for BP to show ‘genuine’ capital spending discipline
UK-based Local Authority Pension Fund Forum urges oil giant to justify increased exploration and capex amid warnings its future projects are increasingly uncompetitive
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NewsBP Pension Fund completes £1.6bn buy-in with L&G
L&G provided the fund with a Gilt-based price lock using the fund’s Gilt holdings
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NewsBP to repatriate Dutch pensions from Belgium
The fund is also considering a buyout to a Dutch insurer for its Belgium-based DB accruals
White papersFed may cut further, amid weaker employment
At its September meeting, the Fed cut the Fed Funds target range by 25bp to 4.00-4.25%, as expected. The Fed’s economic projections showed the median Fed Funds forecast shifting to a total of 75bp of cuts this year, implying a 25bp cut at each of the remaining two meetings. This is happening at a time when both the ECB and BoE left rates unchanged, thus providing opportunities for global fixed income investors to play central banks’ policy asynchrony.
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Opinion PiecesQuestions BP investors should ask themselves
A lot has happened in sustainable finance since the last AGM season: an energy crisis in Europe, an escalating legal campaign against ESG in the US, a credibility crisis for the world’s biggest net zero investment group, and ground-breaking political agreements to protect the planet’s natural resources and marine ecosystems.
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NewsAsset owners push oil giants on financial resilience strategy
Several UK local authority pension funds, alongside 23 other institutional investors, are asking Shell and BP to clarify strategies on how they protect shareholder value
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NewsVelliv divests BP, TotalEnergies, Shell in climate strategy rethink
Danish pension provider divests DKK3.4bn of upstream oil and gas stocks and bonds
White papersBP case study
BP has committed to become net-zero by 2050 or sooner, supported by a robust strategy to get there and market-leading disclosures. EOS continues to engage, following more than a decade of climatefocused engagement with the company.
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NewsUK roundup: Brunel and NEST to vote against chair at BP AGM
Plus: Railpen-led investor group launches workforce directors guidance; Carillion completes buy-in deal with Just Group
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AnalysisAre shareholders finding it harder to make their voices heard?
A showdown at BP and changes at the SEC suggest companies are feeling empowered to snub investor requests
White papersFed cuts, keeps a balanced tone
The Federal Reserve (Fed) reduced its target federal funds rate by 25bp at its December policy meeting. Chair Powell acknowledged that risks to both sides of the Fed’s dual mandate — inflation and labour markets — remain. However, we believe some signals from the Fed suggest labour markets are weaker than current data indicates.
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Bond investors can save up to 10bp on managers’ fees, says ClearGlass
‘Our advice to investors is: don’t accept the first or second offer, keep pushing and they will give you what you want,’ says Chris Sier




