Several major pensions funds are calling for the removal of BP chairman Helge Lund over perceived failures of the company to implement promised green policies.

NEST, the Universities Superannuation Scheme and Brunel Pension Partnership are planning to vote against his re-election and two other funds are said to be ready to join the call after BP recently announced it would scale back its oil and gas production and emission reduction targets.

“While it’s disappointing to see BP rowing back on their climate pledges, what’s particularly worrying is they haven’t gone back to shareholders and given us a chance to vote on such a significant decision,” Nest has said.

Both BP and shell have come under fire following exceptionally high profits during the energy crisis, and last year BP made record profits of more than $27bn, and NEST alongside several other concerned parties, believe that more should be invest in transition rather than dividends.

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