Michael C. Whiteley

This Energy Outlook, produced by bp, provides an analysis of the global energy system's evolution through 2050. It explores two primary scenarios, 'Current Trajectory' and 'Below 2°', which examine the implications of varying speeds and natures of the energy transition. Key focus areas include the growth of global energy demand, the diminishing role of fossil fuels, increasing electrification, and the rapid expansion of low-carbon energy sources like solar and wind. The outlook also considers three sensitivities: increased geopolitical fragmentation, sustained weakness in energy efficiency, and the risks of a delayed and disorderly transition. The overall purpose is to inform bp's strategic views on energy transition risks and opportunities, and to contribute to the broader debate on the future of the global energy system.

The meeting addresses the rapid spread of the coronavirus pandemic and its potential impact. It covers the appointment of Bernard Looney as BP's new CEO, replacing Bob Dudley, and the announcement of BP's new purpose to reimagine energy for people and the planet, aiming for net-zero emissions by 2050. Nils Andersen's departure from the board and Brian Gilvary's upcoming retirement are noted, with Murray Auchincloss joining the board. The agenda includes updating shareholders on the company's 2019 performance, strategy delivery, and seeking approval for the new remuneration policy and the BP Executive Directors' Incentive Plan.

The annual general meeting included voting on several resolutions. These resolutions covered the report and accounts, directors' remuneration report and policy, the election and re-election of directors, the reappointment and remuneration of the auditor, the renewal of the BP Executive Directors' Incentive Plan, political donations and expenditure, authority to allot shares, and share buyback.

The annual general meeting included voting on several resolutions. These resolutions covered a range of topics including the report and accounts, directors' remuneration, the 'Net Zero -- from ambition to action' report, the re-election of directors, the reappointment and remuneration of the auditor, and the renewal of the BP ShareMatch UK Plan 2001 and the BP Sharesave UK Plan 2001. Additionally, resolutions addressed political donations and expenditure, authority to allot shares, share buybacks, and notice of general meetings, as well as a shareholder resolution on climate change targets.

The annual general meeting included voting on several resolutions, such as the report and accounts, directors' remuneration, the election and re-election of directors, reappointment and remuneration of the auditor, political donations and expenditure, renewal of the Scrip Dividend Programme, authority to allot shares, and a shareholder resolution on climate change targets. The board of directors recommended not to approve the shareholder resolution on climate change targets, which was subsequently rejected by shareholders. Tushar Morzaria was appointed as Chair of the audit committee, and Karen Richardson became a member of the audit committee.