Activist investor trying to bully bp into investing in oil and gas instead of renewables
In the UK, Bloomberg reports that activist investor BlueBell is calling on bp to halt future investment in renewable energy and instead invest $1.5 billion annually on oil and gas through 2030 while cutting $28 billion in investment by then in bioenergy, hydrogen and renewables & power. The hedge fund, which also agitated for change at Danone, says that a change to a net zero world by 2050 is becoming ever less likely and bp should not be setting itself up for such an unlikely situation.
Category: Fuels
