Resolutions pushing ExxonMobil and Chevron to get more aggressive on climate change were soundly defeated at annual shareholder meetings on Wednesday. The meetings were the latest example of growing investor pressure on oil giants over global warming.
At Exxon’s meeting, a resolution calling for a new board committee on climate won just 7.4% support. At Chevron’s meeting, roughly 92% opposed a measure to create a new board committee on climate. About 67% opposed a resolution calling for a report on cutting emissions “in alignment” with the Paris agreement.
ExxonMobil and Chevron shareholders reject proposals to tackle climate change https://t.co/hNGaZyRAbL
— Axios (@axios) May 30, 2019
— Dan Ritzman (@lastcurlew) May 29, 2019
Just left @Chevron’s shareholder meeting. CEO Michael Wirth claimed there’s “no new science,” “no new evidence” in the climate lawsuits facing the company. The fact that Chevron is so uninformed about these cases should make shareholders nervous (and encourage plaintiffs)!
— Benjamin Franta (@BenFranta) May 29, 2019