Major oil and gas firms are gearing for their annual shareholder meetings in the coming weeks with pressure to set emission targets consistent with the Paris Agreement, CNBC reported.
- There is currently no oil and gas company that has emission reduction targets consistent with the Paris Agreement.
- The global agreement was ratified by nearly 200 countries in 2015, seeking to make global warming below 2 degrees Celsius and limit the temperature rise to 1.5 degrees Celsius.
- Norway’s Equinox and American oil producer ConocoPhillips are scheduled to hold their annual shareholders meetings on Tuesday.
- The United Kingdom’s BP and U.S. refiner Phillips 66 will hold their meetings on Wednesday, and major player Chevron has scheduled its own on May 26.
- Anglo-Dutch player Royal Dutch Shell is scheduled to hold its meeting on May 18, when it will lay out its net-zero transition plan to shareholders.
At the premarket, COP:NYSE is down 1.81%; BP:NYSE is down 1.88%; PSX:NYSE is down 1.47%; CVX:NYSE is down 1.43%; and RDS.A:NYSE is down 1.92%.