{"id":309898,"date":"2024-03-18T09:23:12","date_gmt":"2024-03-18T08:23:12","guid":{"rendered":"https:\/\/climatescience.press\/?p=309898"},"modified":"2024-03-18T09:23:15","modified_gmt":"2024-03-18T08:23:15","slug":"almost-all-top-bp-shareholders-unhappy-with-green-strategy-claims-activist-investor","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=309898","title":{"rendered":"Almost all top BP shareholders unhappy with green strategy, claims activist investor"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

Oil giant faces fresh pressure to halt renewables investments.<\/em><\/strong><\/p>\n\n\n\n

Almost all of BP\u2019s biggest shareholders are unhappy with its shift to green energy, an activist investor has claimed, amid a growing backlash over the oil giant\u2019s focus on net zero targets<\/a>.<\/p>\n\n\n\n

Giuseppe Bivona, chief executive of Bluebell Capital, which has a minority stake in BP, said he had spent the past three weeks talking to many of the company\u2019s top 30 investors. The Telegraph<\/a> has the story.<\/p>\n\n\n\n

He said: \u201cWith only the exception of one shareholder, I am still to find someone who supports BP in its entirety.\u201d<\/p>\n\n\n\n

Bluebell is spearheading a brewing investor revolt after sending a 30-page letter to the FTSE 100 company in January. <\/p>\n\n\n\n

In the letter it urged BP to halt investment in renewable energy schemes, prioritise oil and gas production, and rewrite net zero targets to clarify that they will be achieved \u201cin line with society\u201d. <\/p>\n\n\n\n

BP has been under increasing pressure over net zero commitments that have allegedly left shareholders \u00a340bn poorer. <\/p>\n\n\n\n

Mr Bivona said he plans to share negative feedback with BP on a no-name basis, which he said will \u201cclearly expose them to the fact that many investors are sympathetic to what we are saying\u201d. <\/p>\n\n\n\n

He is hopeful this will serve as a \u201cwake-up call\u201d for the company, with Bluebell having previously taken similar action against blue-chip giants Glencore and Danone.<\/p>\n\n\n\n

The activist threat represents the first major test for\u00a0Murray Auchincloss<\/a>, BP\u2019s new chief executive, who has told staff that he will stick to the green energy plans rolled out by his predecessor Bernard Looney.<\/p>\n\n\n\n

Read the full story here<\/a>.<\/em><\/strong><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Almost all of BP\u2019s biggest shareholders are unhappy with its shift to green energy, an activist investor has claimed, amid a growing backlash over the oil giant\u2019s\u00a0focus on net\u00a0zero targets.<\/p>\n","protected":false},"author":121246920,"featured_media":309901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Almost all of BP\u2019s biggest shareholders are unhappy with its shift to green energy, an activist investor has claimed, amid a growing backlash over the oil giant\u2019s\u00a0focus on net\u00a0zero targets.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691820005,691818118,691818154,691827669],"class_list":["post-309898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-bp","tag-green-energy","tag-net-zero","tag-shareholders","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/03\/0BP-oil-platform.jpeg?fit=1200%2C675&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1iCm","jetpack-related-posts":[{"id":373760,"url":"https:\/\/climatescience.press\/?p=373760","url_meta":{"origin":309898,"position":0},"title":"BP chairman quits after green energy plan gutted","author":"uwe.roland.gross","date":"04\/05\/2025","format":false,"excerpt":"The chairman of BP is to quit in the wake of the company\u2019s disastrous flirtation with green energy.","rel":"","context":"In \"British Petroleum (BP)\"","block_context":{"text":"British Petroleum (BP)","link":"https:\/\/climatescience.press\/?tag=british-petroleum-bp"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0b6130cfe8ab34faa043a55e522d83df1.jpeg?fit=1200%2C749&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0b6130cfe8ab34faa043a55e522d83df1.jpeg?fit=1200%2C749&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0b6130cfe8ab34faa043a55e522d83df1.jpeg?fit=1200%2C749&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0b6130cfe8ab34faa043a55e522d83df1.jpeg?fit=1200%2C749&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/04\/0b6130cfe8ab34faa043a55e522d83df1.jpeg?fit=1200%2C749&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":242842,"url":"https:\/\/climatescience.press\/?p=242842","url_meta":{"origin":309898,"position":1},"title":"BP to cut back on green shift amid booming demand for fossil fuels","author":"uwe.roland.gross","date":"02\/02\/2023","format":false,"excerpt":"Money talks, as they say! 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The fall started when company profits turned out to be just $9 billion, down from $14b a year ago and $28b in 2022. As The Telegraph reports, \u201cBP\u2019s shareholders had realized that the green spending they\u2026","rel":"","context":"In \"British Petroleum (BP)\"","block_context":{"text":"British Petroleum (BP)","link":"https:\/\/climatescience.press\/?tag=british-petroleum-bp"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0BP-Logo-History.jpg?fit=1200%2C747&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0BP-Logo-History.jpg?fit=1200%2C747&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0BP-Logo-History.jpg?fit=1200%2C747&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0BP-Logo-History.jpg?fit=1200%2C747&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0BP-Logo-History.jpg?fit=1200%2C747&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":366309,"url":"https:\/\/climatescience.press\/?p=366309","url_meta":{"origin":309898,"position":5},"title":"BP set to scale back green\u00a0investments","author":"uwe.roland.gross","date":"02\/16\/2025","format":false,"excerpt":"Oil giant BP has said it will \"fundamentally reset\" its strategy as profits dropped sharply last year.","rel":"","context":"In \"BP\"","block_context":{"text":"BP","link":"https:\/\/climatescience.press\/?tag=bp"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2025\/02\/0green-hydrogen-the-renewable-energy-source-to-watch-in-2021.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/309898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/users\/121246920"}],"replies":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=309898"}],"version-history":[{"count":4,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/309898\/revisions"}],"predecessor-version":[{"id":309903,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/posts\/309898\/revisions\/309903"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=\/wp\/v2\/media\/309901"}],"wp:attachment":[{"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=309898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=309898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/climatescience.press\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=309898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}