- Save articleOpinion Pieces
Questions 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.
- Save articleNews
Velliv divests BP, TotalEnergies, Shell in climate strategy rethink
Danish pension provider divests DKK3.4bn of upstream oil and gas stocks and bonds
- Save articleNews
UK 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
- White papers
BP 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.
- Save articleNews
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
- White papers
3-4 May FOMC meeting: 50bp interest rate hike is bullish for markets
Federal Open Market Committee (FOMC) and statement: On 4 May, the Federal Reserve (Fed) hiked the Fed funds rate by 50bp to 0.75-1.00%, the first back-to-back hike since the second quarter of 2006. The FOMC statement signaled the start of a series of rate hikes. The Fed downplayed the negative Q1 GDP data, while upgrading its inflation assessment.
- White papers
Fed continuing to downshift: 31 January-1 February FOMC review
The Federal Reserve hiked the fed funds rate by 25bp, to 4.50-4.75%, a step down after the Fed hiked by 50bp in December. The slowing in the pace of rate hikes was widely expected.
- Save articleNews
BP chief economist suggests focus on prices rather than climate scenarios
Spencer Dale floats idea of ‘shortcutting’ use of scenarios and turning straight to price metrics
- Save articleNews
APG and others outline stance on BP net-zero ambition, delivery
CA100+ investors publish statement ‘for consideration’ ahead of tomorrow’s AGM
- White papers
Still bearish on China? As Beijing takes action, watch the data to see if it’s working
Recent data has painted a bleak picture of China’s economy. As 2024 unfolds, there are signals that Beijing is finally stepping up to the plate with a solid raft of measures designed to improve consumer and business confidence. For investors trying to gauge whether these moves are effective, here are the indicators to keep an eye on.
- White papers
Fed: Staying the course until the job is done
FOMC statement and press conference: On 14 December, the Federal Reserve (Fed) hiked the Fed Funds Rate by 50bp to 4.25-4.50%, a step down after four consecutive 75bp rate hikes. This takes the Fed Funds Rate further into restrictive territory.
- Save articleNews
Border to Coast votes against 95% chair re-elections in oil and gas companies
This is up from 31% in 2022, following an updated voting policy for the oil and gas sector
- White papers
1-2 November FOMC meeting: debating a downshift, not a pivot
As widely expected, on 2 November, the Federal Reserve hiked the Federal Funds rate by 75bp, to 3.75-4.00%. The action marked the fourth consecutive 75bp rate hike this year. Investors initially interpreted the accompanying statement as dovish by selling the dollar and buying US Treasuries and equities.
- Save articleNews
Ircantec exits dozen companies as new climate policy kicks in
Divested companies include Anglo American, BP, Mitsubishi, and Repsol
- White papers
Fed moving to a pause with a very data-dependent approach
The Federal Open Market Committee (FOMC) raised the federal fund rate by 25bp but dropped future guidance. Chair Powell claimed that the Fed is far away from hitting its inflation target, but acknowledged that the tighter credit conditions for households and businesses could affect economic growth.
- White papers
20-21 September FOMC meeting: the move into restrictive territory
The Federal Open Market Committee (FOMC) meeting and statement: On 21 September, the Fed hiked the Fed funds rate by 75bp, to 3-3.25%, the third consecutive 75bp rate hike, and the fifth rate increase in 2022. This means the central bank has raised rates by 3 percentage points this year, clearly prioritising its aim to tame inflation even if it means damaging economic growth.
- Save articleNews
PenSam blacklists 26 oil firms but sticks with Shell, BP
Danish pension fund divests more than €17m worth of shares in its latest equity portfolio exclusions move in support of the Paris Agreement on climate change
- White papers
Hawkish surprise from the ECB
At its December meeting, the ECB hiked rates by 50bp, to 2.0% (deposit rate). The Bank delivered a very hawkish statement. Inflation remains the main concern and top priority.
- Save articleNews
BP investors press company on climate change reporting, targets
Management-backed shareholder resolution gets more than 99% of votes, but Follow This hails backers of its separate resolution as the ‘heroes’
- Save articleNews
MP Pension blacklists oil companies including Shell, BP and Exxon
The Danish academics’ pension fund has analysed the sector and decided to divest stocks worth €86m – and bonds could follow