The unlikely partnership between BP and Dutch climate activist Follow This formally ended last Friday when the British oil major advised shareholders not to support the NGO’s proposal calling for Paris-aligned targets, covering all emissions, ahead of its annual meeting in May.
That advice marks the end of a collaboration that began early last year, when Follow This withdrew a resolution at BP in order to work with the firm under its newly-appointed CEO Bernard Looney. The objective was to agree on the wording of a new climate resolution that would be put to shareholders in 2021 with the board’s blessing.
But during the process, Follow This Founder, Mark van Baal says “it became clear that BP wanted a shareholder mandate for its current strategy and we want a shareholder mandate for a Paris-aligned strategy”.
A major sticking point was on whether BP would be able to increase its emissions to 2030 and still be aligned with Paris, which Fol…