May 9, 2017 / 9:44 AM / 4 months ago

ShareAction urges investors to reject BP, Shell pay policies

FILE PHOTO: A BP logo is seen at a petrol station in London, Britain, January 15, 2015. REUTERS/Luke MacGregor/File Photo

LONDON (Reuters) - Campaign group ShareAction on Tuesday called for investors to oppose remuneration policies at oil majors BP and Royal Dutch Shell as the policies were not tied closely enough to targets to reduce carbon emissions.

ShareAction said this meant both companies’ plans were misaligned with the interests of long-term shareholders.

ShareAction said it had contacted shareholders at both companies and was helping pension savers to write to their funds about voting down the remuneration policies.

BP and Shell were not immediately available for comment when contacted by Reuters.

Reporting by Simon Jessop and Ron Bousso; editing by Carolyn Cohn

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