Spring is the season for annual general meetings and this year they provide a test of environmental credentials. Barclays (BARC), Rio Tinto (RIO), BP (BP.) and Royal Dutch Shell (RDSB) are subject to resolutions from activist non-government organisations (NGOs) seeking ambitious commitments in keeping with the Paris Climate Agreement.
The Paris objective is to limit global temperature increases to two degrees Celsius above pre-industrial levels, with strenuous efforts to keep the rise to just one-and-a-half degrees. Estimates by Swiss bank J Safra Sarasin suggest, however, that corporations worldwide are behaving in a manner that will see a rise of more like four degrees.