ACTIVISTS SUFFER MAJOR DEFEAT AS SHAREHOLDERS REJECT CLIMATE RESOLUTIONS
Last week, environmental activists upped the pressure on ExxonMobil and Chevron shareholders to pass extreme resolutions on climate change. Shareholders sent a clear message: no thanks.
Chevron’s shareholder meeting included two climate resolutions: a measure to create a new board committee on climate and another demanding the creation of a report tracking Chevron’s emissions against the Paris Climate Accord. Both failed.
At Exxon’s 2019 shareholder meeting, one shareholder resolution could only muster about seven percent of available shareholder votes. The meeting included two other failed climate resolutions: one resolution called for a report on climate risk on Gulf Coast petrochemical operations, and the other resolution advocated for an independent chairperson. The latter resolution was jointly submitted by the Church of England and New York State Common Retirement Fund, after their original motion was dismissed by the SEC as an attempt to micromanage the company.
Read the full post over at EID Climate.