Story perspectives

BP Shareholders Reject Climate Reporting Cuts, Re-elect Chair

4/23/2026

Summary

BP Shareholders Reject

On April 23, 2026, BP shareholders rejected two board-proposed resolutions at the annual general meeting.
More than 50% voted against scrapping BP’s climate reporting and about 18% opposed re-electing chair Albert Manifold, who nonetheless kept the post with 81.8% support.
Legal & General Investment Management, Norway’s sovereign wealth fund, proxy advisers Glass Lewis and ISS voted against the climate-disclosure resolutions, while activist hedge fund Elliott praised Manifold’s role.

Summary

BP Secures AGM

Tight security is deployed at BP’s Sunbury-on-Thames hub in Surrey for the April 23, 2026 AGM.
The meeting marks the first appearance of new chief executive Megan O’Neill formerly of Woodside Energy before shareholders.
Board members have tabled a proposal to move all future BP annual meetings online.
Activist group Follow This warned it may pursue legal action after BP rejected its climate-scenario resolution.

Summary

BP Shifts Strategy

BP's shares have risen more than 33% year-to-date, outpacing Shell, Exxon Mobil and Chevron.
The company is shifting its strategy back toward oil and gas production while scaling down renewable-energy investments.
Board chair Albert Manifold said the AGM decisions were taken “in good conscience” to increase shareholder value.
BP’s governance rules require a director to obtain at least 50% of votes, a threshold the chair routinely meets with near-unanimous support.

1 of 3

BP Shareholders Reject

On April 23, 2026, BP shareholders rejected two board-proposed resolutions at the annual general meeting.
More than 50% voted against scrapping BP’s climate reporting and about 18% opposed re-electing chair Albert Manifold, who nonetheless kept the post with 81.8% support.
Legal & General Investment Management, Norway’s sovereign wealth fund, proxy advisers Glass Lewis and ISS voted against the climate-disclosure resolutions, while activist hedge fund Elliott praised Manifold’s role.

1 / 3