SHEL - Big Oil wins shareholder support as energy crisis exceeds climate crisis

Climate resolutions are struggling win support at this year's annual shareholder meetings of major oil companies, as investors decide that tight energy supplies and big company profits trump climate concerns. Major oil firms have easily defeated several climate resolutions brought by shareholder activists at this year's round of annual general meetings, after last year's string of hostile investor votes. Dutch activist shareholder group Follow This saw support for its climate resolution at BP's (BP) meeting this week fall to 15% from 21% a year ago, lamenting that "Big Oil has convinced some investors the energy crisis overrides the climate crisis." BP's advisory vote on its own energy transition plan, offered for a vote for the first time, won 88% shareholder support. Only 42% of votes cast at ConocoPhillips' (COP) meeting this week supported stricter emissions targets, after 58% voted in favor of a similar measure in a non-binding resolution last

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Big Oil wins shareholder support as energy crisis exceeds climate crisis