Those include activist hedge fund Elliott Management, which recently took a stake in BP with a view to pushing for significant changes.“It’s a radical shift,” Chief Executive Murray Auchincloss said in an interview.

LONDON (AP) — British energy company BP confirmed Wednesday that it would slash spending on green ventures and increase its oil and gas production, a change in direction that it hopes will bolster its flagging share price but has been met with incredulity from climate action campaigners.

The energy giant said it would cut planned investment in clean energy and redirect spending toward fossil fuels.