31 May '17, 4pm

ExxonMobil Investors Make History with Majority Vote on Climate Risk Disclosure

Investors claimed a historic win today at ExxonMobil’s annual meeting with a majority vote in favor of a shareholder proposal calling on the oil and gas giant to assess and disclose how it is preparing its business for the transition to a low-carbon future. The proposal was hotly contested as Exxon’s management fought to sway investors right up to the last moment. Institutional investors with more than $5 trillion of combined assets under management co-filed the proposal, including lead-filers from the New York State Common Retirement Fund and the Church Commissioners for England. “This is an unprecedented victory at Exxon for investors in the fight to ensure a smooth transition to a low-carbon economy,” said New York State Comptroller Thomas DiNapoli. “Climate change is a risk to the core business of ExxonMobil, and the burden is now on the company to show that it is resp...

Full article: https://www.ceres.org/news-center/press-releases/exxonmob...

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ceres.org 31 May '17, 4pm

Investors claimed a historic win today at ExxonMobil’s annual meeting with a majority vote in favor of a shareholder propo...

ExxonMobil Investors Make History with Majority...

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