Commentary

BP’s U-turn shows we must rethink investor stewardship

The primary driver of good stewardship should be market forces, not regulation

BP’s U-turn shows we must rethink investor stewardship
Photo: Alamy

David Wighton is a columnist for Financial News

In 2020, BP announced a transformation strategy that would slash its oil and gas output by 40% by the end of the decade. The company said its dramatic shift had been “shaped” partly by engagement with Climate Action 100+, an investor group that was co-led by Legal & General Investment Management.

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