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  "documentTitle": "BP plc (BP)",
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  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "presentationDate": "2023-10-04 00:00:00",
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  "notes": "The slide uses a competitive comparison to justify the demand for removing Scope 3 targets.",
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      "text": "We respectfully ask BP's Board of Directors to consider the following six actions: (i) remove medium-term Scope 3 targets (reduction of 10-15% by 2025; 20-30% by 2030) and qualify 2050 target (Net-Zero) as a target to be reached 'in line with Society'.",
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      "text": "(i) remove medium-term Scope 3 targets (reduction of 10-15% by 2025; 20-30% by 2030) and qualify 2050 target (Net-Zero) as a target to be reached ‘in line with Society’ (i.e., maintain ambition in line with the effective progress of global decarbonization)",
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      "text": "Mr. Looney’s departure provides BP’s Board of Director with the opportunity to review BP’s strategy and make changes to maximise long-term shareholder value, whilst at the same time adopting “a more pragmatic, proportionate and realistic approach to meeting net zero” (Rishi Sunak, 20th of September 2023). We respectfully ask BP’s Board of Directors to consider the following six actions:",
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      "text": "In the medium-term (2025, 2030), BP should maintain the flexibility to adjust Scope 3, to maximise shareholder value and to serve the changing needs of the energy transition responsibly best. ExxonMobil and Chevron do not have a Scope 3 target, Shell has a Net-Zero Scope 3 target by 2050 with no intermediate milestones. Total Energies has a Net-Zero target by 2050 with milestones in 2025 and 2030 which simply cap the potential increase in Scope 3 emissions and 2050 Net-Zero is correctly qualified as an objective “in line with Society”. This leaves BP competitors largely unconstrained in how they run their business, with the enhanced benefit of an ability to adjust their plans to support the energy transition, whose speed will ultimately depend on the dynamic pace of change in government policies, consumer behaviors and corresponding demand. It is interesting to note that at ExxonMobil’s and Chevron’s 2023 AGMs, a shareholder proposal was voted on to set a Scope 3 medium-term emission",
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      "text": "6. Conclusions",
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