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Glass Lewis recommends vote against BP chair over blocked climate resolution
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Glass Lewis recommends vote against BP chair over blocked climate resolution
Apr 7, 2026 4:23 AM

* Glass Lewis, ISS recommend some votes against BP

board's wishes

* Recommendations by big proxy firms against board are

rare

* BP's new CEO O'Neill started last week

(Adds details on Glass Lewis report, ISS move, BP comments)

By Shadia Nasralla and Stephanie Kelly

LONDON, April 7 (Reuters) - Proxy adviser Glass Lewis

recommended that BP shareholders vote against Chair

Albert Manifold, who took up the post in October, citing BP's

decision to exclude a climate-related resolution from its

upcoming annual meeting, according to a note seen by Reuters.

It is relatively rare for large shareholder advisory groups

such as Glass Lewis - whose recommendations could guide many

shareholder votes at annual general meetings - to ask investors

to vote against the board's wishes.

Glass Lewis made its recommendation based on BP's decision

to exclude from its April 23 annual meeting a resolution calling

on it to disclose its longer-term strategy under scenarios of

declining oil and gas demand, which was tabled by climate

activist shareholder group Follow This, according to the note.

BP is pivoting back to a focus on oil and gas following a

foray into renewables in a major strategic shift being led by

Meg O'Neill, who took the helm last week as the company's fourth

CEO since 2023.

Glass Lewis did not immediately respond to a request for

comment.

Follow This has broadened its climate campaign against BP

alongside some European investors, representing less than 0.3%

of the company's shareholders.

"The decision further raises questions about transparency,

shareholder communication, and responsiveness to shareholder

concerns," Glass Lewis said in the note.

Manifold was cited on BP's website as saying that BP's board

concluded that Follow This' proposal was not valid and would be

ineffective if it were to pass at the AGM.

A BP spokesperson said the British major was focused on

building a simpler company following investor engagement.

"That's why we are making these recommendations, to provide

transparent, standardised disclosures that support clear

comparisons across companies," the spokesperson said.

Glass Lewis's move chimes with another influential

shareholder advisory firm ISS, which recommended a vote against

BP's board asking for permission to retire two company-specific

climate reporting resolutions. BP says the resolutions have been

superseded by other, more standardised frameworks, adding it had

had extensive engagement with its largest investors on this

move.

Glass Lewis also recommended shareholders vote against BP's

wishes to scrap the two climate reporting resolutions.

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