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BP and Shell investors urged to reward bosses for backing green energy

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Screen Shot 2016-08-04 at 14.47.05BP and Shell investors urged to reward bosses for backing green energy

Shareholders should use binding votes on pay policies next year to push executives to stick to climate goals, says ShareAction

Sean FarrellThursday 29 September 2016 00.01 BST

Shell and BP’s pay plans encourage their bosses to dig for oil instead of investing in low-carbon energy and should be overhauled by shareholders, according to the campaign group ShareAction.

Investors in the oil companies should use binding votes on pay policies next year to scrap short-term targets and reward chief executives for working towards the target set in Paris last December to limit global temperature increases to 2C or less, the responsible investment group says in a report.

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