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An Exxon gas station in New York. Photo: Spencer Platt/Getty Images

Resolutions pushing ExxonMobil and Chevron to get more aggressive on climate change were soundly defeated at annual shareholder meetings on Wednesday.

Why it matters: The meetings were the latest example of growing investor pressure on oil giants over global warming.

Where it stands: At Exxon's meeting, a resolution calling for a new board committee on climate won just 7.4% support.

  • A separate measure partly about climate, calling for a report on the risks of expanding Gulf Coast petrochemical operations, drew 25% 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.

But, but, but: One Exxon measure that climate advocates saw as a proxy for their concerns, a resolution to create an independent board chairman, got 41% support, an uptick from last year.

What they're saying: Exxon chairman and CEO Darren Woods recently "spoke at length about the steps Exxon was taking to address the threat of climate change, including support for research into new technologies that could eventually help to curb greenhouse gas emissions, including biofuels derived from algae and the capture and storage of carbon dioxide emissions from power plants," the Financial Times reports.

Go deeper: Exxon and Chevron to face investor pressure to do more on climate

Go deeper

S.C. governor orders end to federal COVID-related unemployment benefits

Photo: Micah Green/Bloomberg via Getty Images

South Carolina Gov. Henry McMaster (R) on Thursday ordered the termination of the state's participation in all federal, pandemic-related unemployment benefit programs.

Driving the news: McMaster cited labor shortages, but some experts say it's the job climate and not unemployment benefits that is determining the pace at which people are returning to work.

Dave Lawler, author of World
22 mins ago - World

Mixed response in Europe to Biden's vaccine patents bombshell

Illustration: Aïda Amer/Axios

The Biden administration surprised the world last night by coming out in favor of waiving patents for coronavirus vaccines — but Europe is divided on the issue.

What they're saying: European Commission President Ursula Von Der Leyen said Brussels would be willing to discuss it; French President Emmanuel Macron said he backed the U.S. position, but a German government spokesman said the proposal would cause "severe complications" for vaccine production.

Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Rae Cook/Axios

  1. Health: CDC expects new COVID surge starting this month — Coronavirus cases hit a seven-month low
  2. Politics: Federal judge overturns CDC's eviction moratorium — Why Biden's latest vaccine goal is his hardest yet.
  3. Vaccines: Moderna says its COVID booster shot shows promise against variants — U.S. will support waiving vaccine patents — Education secretary: All schools expected to be fully in-person this fall
  4. Economy: U.S. may have added more than 2 million jobs in April — A surge in youth unemployment.
  5. World: True COVID-19 death toll is double the official numbers, study finds — Countries testing J&J vaccine doses after contamination at Baltimore plant — Germany opposes Biden's support for waiving vaccine patents
  6. Variant tracker: Where different strains are spreading.