BP AGM: It's time to get off expensive gas and oil

Delegates are due to arrive in London today to attend fossil fuel giant BP’s annual general meeting, where activist shareholders are reportedly set to challenge the company’s leadership over its recent climbdown on its climate ambitions.

Connor Schwartz, climate campaigner at Friends of the Earth, said:

“The energy crisis has really exposed the lack of integrity behind climate commitments made by BP and other top polluters. It was only in 2020 that BP showboated over its carbon reduction plans, which were already far short of the drastic cuts needed. Now, the company has shown it only cares about extracting as much profit from fossil fuels as long as commercially viable.

“And right now the oil and gas business isn’t just viable - it’s booming - as energy firms rake in billions off soaring energy prices at the expense of us all. BP’s profits doubled last year, meanwhile its CEO took home a £10m pay packet. It’s impossible to ignore how deeply unjust this is when we have just emerged from one of the bleakest winters in decades where millions struggled to afford to heat their homes.

“Getting off expensive oil and gas couldn’t be more vital both for our communities and the planet. The government has already lost enough time – it must tap into the huge opportunity that is investing in renewables and insulating our heat-leaking homes.”

ENDS

Notes to editors

1. “BP joins oil and gas firms posting massive profits” | 07 Feb 2023