The Church of England has challenged Shell and BP to run their businesses in a more environmentally friendly manner.
Edward Mason, the head of responsible investment at the Church Commissioners for England, said in a blogpost that it was in the process of filing shareholder resolutions on climate change at the BP and Shell AGMs, adding: “The resolution is intended to challenge the companies to run their businesses so that they participate constructively in the transition to a low carbon economy.”
He said BP and Shell were chosen because they have the biggest carbon footprints of all the companies listed on the London Stock Exchange.
Shell said it was aware of the resolution but did not want to comment further. BP responded: “We have had constructive discussions with CCLA [church fund managers] and are aware that they intend to file a resolution for our AGM in April 2015. We will carefully consider it and respond appropriately before the meeting.”