Two of the UK’s largest pension schemes will vote against the renewal of top directors at BP Plc (BP.L) and Shell Plc (SHEL.L) at their annual meetings unless both companies strengthen commitments to tackling carbon emissions, the Financial Times reported on Sunday.

The plan by Britain’s Universities Superannuation Scheme (USS) and Borders to Coast, which together oversee 130 billion pounds ($156.36 billion) in assets, was part of efforts to push oil companies and banks to make faster progress on climate change pledges, the report added.”Our new stewardship and voting policy will see us vote more personally against responsible directors where possible,” USS said in a statement to \

As a long term investor, “we’ll do this where a company hasn’t disclosed its climate transition plan, doesn’t meet our diversity expectations, or where executive pay doesn’t align with company performance,” it added.

UK pension funds target BP and Shell directors over climate goals- FT | Reuters