Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Chevron gas station in Alameda, California. Photo: Justin Sullivan/Getty Images

Investors rejected two non-binding but symbolically important shareholder resolutions related to climate change at Chevron’s annual meeting Wednesday.

Driving the news: One resolution calling for more action cutting methane emissions narrowly failed at 45%. Another, more aggressive proposal calling for the oil giant to propose ways to lessen its production of fossil fuels received just 8%, according to As You Sow, a nonprofit group that filed the resolutions on behalf of some Chevron investors.

The big picture: These votes are the latest in a trend of investors increasingly calling on publicly held fossil-fuel companies to be more transparent about how policies to cut greenhouse gas emissions could impact their bottom lines despite President Trump's retreat on the issue.

For the record: A Chevron spokesman referred to earlier statements and also said reducing emissions of methane, a potent greenhouse gas that's the primary component of natural gas, "makes good environmental and business sense."

Between the lines:

  • The methane vote, although not passing the 50% mark, is considered to be a strong showing and was in the same ballpark as similar ones at other oil companies, such as Range Resources, where a similar measure narrowly passed with 50.3%.
  • The more aggressive resolution asking for a transition plan was widely expected to fail considering it went a step further than most other proposals by asking not just for more climate disclosure, but to change business strategy.

Yes, but: The resolutions aren’t legally binding, but a majority support typically indicates the company will act to respond in some way rather than ignoring it, which companies often do for resolutions that don’t get close to or pass the 50% threshold. The process, which for most companies occurs in the spring, has been called "shareholder democracy."

Go deeper

7 mins ago - World

Abbas announces first Palestinian elections in 15 years

Abbas is 85 and in the 15th year of a 4-year term. Abbas Momani/AFP via Getty

Palestinian President Mahmoud Abbas published a decree on Friday announcing the dates for parliamentary and presidential elections in the Palestinian Authority.

Why it matters: This is the first time in 15 years that such a decree has been published. The last presidential elections took place in 2005, with Abbas winning, and the last parliamentary elections took place in 2006, with Hamas winning.

Updated 13 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — America has tuned out the coronavirus at the peak of its destruction — 1 in 3 people in L.A. County believed to have been infected with coronavirus.
  2. Politics: Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan— Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat — Joe Biden will seek nearly $2 trillion in COVID relief spending.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Trump blocks banks from limiting loans to gun and oil companies

Illustration: Sarah Grillo/Axios

Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.

Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.