LONDON, March 11 (Reuters) - Climate shareholder activist group Follow This said it would fight BP's decision not to include its climate resolution in its annual general shareholder meeting invitation.
* Follow This filed the resolution alongside investors whomanage about 1 trillion euros ($1.2 trillion) in assets,including Groupama and the Ethos Foundation, as well as a numberof European local pension funds. * The group demanded BP disclose longer-term strategiesunder scenarios of declining oil and gas demand, but BP did notinclude the resolution in its notice of meeting issued lastweek. * "If BP does not comply within two days, Follow This andinvestors will pursue injunctive relief in court ordering BP tocirculate the resolution to shareholders," Follow This said in astatement. * A BP spokesperson said: "The board determined, havingtaken legal advice, that the proposed resolution did not conformto legal requirements. Moreover, we have a clear strategy withmulti-year targets to drive long-term shareholder value acrossthe cycle and remain fully committed to responsibleindustry-standard climate related reporting." * BP's AGM planned for April 23. * Follow This started filing climate resolutions atshareholder meetings in 2016 and attracted peak shareholdervotes in subsequent years of 80% at Phillips 66, 60% atChevron, around a third at Exxon and Shell and a fifth at BP.($1 = 0.8588 euros)
(Reporting by Shadia Nasralla)
