Brunel vote at the BP AGM

Brunel exists to deliver stronger investment returns over the long term, protect our clients’ interests through contributing to a more sustainable and resilient financial system, which supports sustainable economic growth and a thriving society.

As reported Brunel will be voting against the reappointment of BP’s chair at the upcoming AGM. Faith Ward, Chief Responsible Officer at Brunel explains why;

“We acknowledge BP’s ambition to be net-zero by 2050 or before and the increased commitment to invest in solutions, but we are using our votes at the AGM to flag our concerns about the changes in strategy.  There was no shareholder engagement regarding the reductions in commitments relating to oil and gas production – a material change to the plan presented to shareholders in 2022, and one that seriously imperils BP’s credibility as a company that will deliver on its promises”

We believe that it is essential that we use our voting rights as investors to support collective action on systemic issues such as those raised, and hopefully this can lead to real world change.