BP names Murray Auchincloss CFO as the U.K. energy company faces pressure to increase investments in renewables without sacrificing shareholder returns
By Nina Trentmann Jan. 21, 2020 5:21 pm ET BP PLC’s incoming chief financial officer faces a two-pronged challenge as the U.K. oil-and-gas giant is under pressure to increase investments in renewables without sacrificing shareholder returns.
Stricter international climate protocols such as the Paris Agreement and a stronger investor focus on environmental, social and governance criteria present a range of challenges for BP’s new management. This is necessary to free up capital needed for continued investments in the company’s oil-and-gas business, as well as increased allocations to renewable sources of energy, analysts said.
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