- BP's shares have hit their highest in almost four years, gaining around 17% since Tuesday when the group also reported a record profit for 2022 and boosted its dividend.
- Chief Executive Bernard Looney's strategy revision on Tuesday included a cut to BP's 2030 emissions reduction target.
- Half of BP's top ten institutional investors are members of CA100+, according to Refinitiv Eikon data.
- BP did not change its long-term ambition to reduce its emissions to net zero by 2050.
- Scientists say the world needs to cut greenhouse gas emissions by around 45% by 2030 to have any hope of meeting the 2015 Paris Agreement targets.
Climate-focused investors irked by BP's pivot back to oil
Climate-focused investors are concerned about BP's pivot back to oil amid record profits and dividend as the company scales back its climate targets. Investment funds managing $68 trillion in assets demand BP align with 2015 Paris Agreement targets.