Over 150 investors, including Environment Agency and Church of England, demand that BP test whether their business model is compatible with international pledge to limit global warming to 2C Oil giant BP is being challenged to confront the risk that climate change may pose to its future in a shareholder resolution published on Wednesday. Pension funds controlling hundreds of billions of pounds are among the 150 investors demanding the company tests whether its business model is compatible with the international community?s pledge to limit global warming to 2C. The 2C target means only a quarter of existing, exploitable fossil fuel reserves are burnable, according to a series of recent analyses, implying that trillions of dollars of oil, gas and coal held by investors could become worthless and that further exploration for fossil fuels may be pointless. The same shareholder resolution, which includes a ban on corporate bonuses for climate-harming activities, has been tabled with Shell and both will be voted on at forthcoming annual meetings. ?Climate change is a major business risk,? said James Thornton, chief executive of the environmental law organisation Client Earth, which helped coordinate the resolutions. ?BP and Shell hold our financial and environmental future in their hands. They must do more to face the risks of climate change. Investors can help them by voting for these shareholder resolutions.?

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