- UK pension funds, Universities Superannuation Scheme and Borders to Coast plan to vote against renewal of directors at Shell and BP if they don't improve commitments to carbon emission reductions.
- Pension funds want oil companies to make faster progress on climate change.
- Pension funds to vote against directors who don't disclose breakdown of spending on projects that add to carbon footprint and banks that fail to reveal climate transition plans.
UK Pension Funds May Vote Against Shell, BP Directors, FT Says
The UK’s Universities Superannuation Scheme and Borders to Coast plan to vote against the renewal of some directors at Shell Plc and BP Plc at their annual meetings if the companies don’t improve their commitments to carbon emission reductions, the Financial Times reported, citing representatives from pension funds.
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