Market Chatter: ISS Recommends Vote Against BP Move to Revoke Certain Climate Reporting

MT Newswires Live04-06

Proxy adviser Institutional Shareholder Services recommended a vote against a move by the board of BP (BP) to revoke some previous company-specific climate reporting resolutions, Reuters reported Saturday, citing a note seen by it.

The British oil and gas giant's board has called for a vote at its April 23 shareholder meeting to retire two resolutions from 2015 and 2019 requiring company-specific climate reporting, according to the news agency.

"Following extensive engagement with our largest investors, we are fully focused on building a simpler, stronger and more valuable BP," the company said in a statement e-mailed to MT Newswires Monday. "That's why we are making these recommendations, to provide transparent, standardized disclosures that support clear comparisons across companies."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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