An investor-driven climate change push at some of the world’s largest oil companies has stalled out.
On Wednesday, Exxon Mobil XOM 2.32%increase; green up pointing triangle and Chevron’s CVX 2.69%increase; green up pointing triangle shareholders struck down a raft of proposals urging the companies to cut greenhouse-gas emissions derived from fuel consumption, put out new reports on climate benchmarks and disclose certain oil-spill risks, among other initiatives.
The votes were abysmal for climate activists. All but two of the 20 shareholder proposals for the two companies garnered less than 25% of investors’ vote, according to preliminary results, with some performing much worse than similar proposals put forward last year.
[I have a grin from ear-to-ear. ~ Beege]
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