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Market Tracker's new series, Market Tracker Insights, features reports on market developments enhanced by data from the Market Tracker corporate database and expert market commentary. In this report, Market Tracker looks at the climate-related pressures on oil companies, through the lens of the BP AGM. 

Dutch-based activist shareholder group, Follow This, works on the pretence of purchasing shares in major publicly listed oil majors and subsequently proposing resolutions to pursue a climate-focused agenda. This year, Follow This has put forward a resolution at the AGMs of Shell, BP, ExxonMobil, Chevron and TotalEnergies to align the emission reduction strategies of these companies with the Paris Climate Agreement, the fourth time in the past five years. This report focuses on the increasing pressure from activist shareholders on oil companies to align their emission reduction strategies with the Paris Climate Agreement, and looks at other areas impacted by climate-related considerations. Mckenzie Ursch, Head of Legal at Follow This, and Lucie Pinson, Director at Reclaim Finance, provide expert commentary on this topical issue.