BP agrees to align ‘capex’ with climate goals, as institutional investors flex muscles on risk

11th February 2019 by Emma Goring

Divide and conquer: Growing splits in every industry, including oil,set up natural experiments between companies’ approach to the low-carbon transition and their resilience to the disruptions ahead.

Now comes BP which, under pressure from global pension funds, agreed to align its capital-expenditure, or capex, with the Paris climate accord. Taken to its logical conclusions, such accounting could accelerate the shift of investment away from fossil fuels. Oil companies’ spending on low-carbon assets accounted for only about 1.3% of their total capex last year.

Read more here: http://bit.ly/BPcapex