SHAREHOLDERS will vote on
The energy giant is calling on shareholders to vote in favour of Resolution 20 - approving its climate targets.
However, its plans have faced sustained criticism from activist investors such as Dutch group Follow This, which has filed a competing motion - Resolution 21 - that calls for the group to pledge to more stringent short, medium and long-term emissions targets.
Follow This has warned shareholders that
It has also argued that without interim targets it will be cost prohibitive and damaging for the business to meet its climate targets.
City A.M. understands its resolution is backed by multiple Dutch institutional investors.
Meanwhile,
Earlier this month, chief executive
He argued Follow This goes "much further than even the most progressive pathways to net zero in our sector."
The upcoming AGM comes after
The record performance was powered by soaring oil and gas prices, reflecting the continued importance of fossil fuels to its business, despite its plans to transition to low carbon energy sources.
(c) 2022 City A.M., source