BP to Back Climate Plan Initiative

BP to Back Climate Plan Initiative

LONDON (AP) -- The board of energy giant BP says it will support a resolution from a group of institutional investors to describe how its strategy is consistent with the Paris climate change accords — a reflection of how investor pressure is putting global warming on the boardroom agenda.

The company says in a statement Friday that it accepted the call from participants in the Climate Action 100+ initiative, which wants the company to improve corporate reporting and transparency on risks related to climate change.

The group says it involves 300 investors with $32 trillion in assets. They include Hermes EOS, Aviva Investors and Legal and General Investment Management.

BP Chairman Helge Lund says the company is "committed to helping solve the dual challenge of providing more energy with fewer emissions."