A series of shareholder votes indicate that investors are now broadly happy with leading oil and gas companies’ climate eforts. Although last year’s annual shareholder meetings saw strong support for resolutions demanding executive teams go even further on reducing emissions, meetings this month have seen this support wane while company boards’ own plans received overwhelming backing. On both sides of the Atlantic-as anticipated-investor support for more aggressive plans to curb emissions went into reverse, amid rising shareholder returns on the back of surging oil and gas prices driven by the west’s response to Russia’s invasion of Ukraine.
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