Exxon and Chevron to face investor pressure to do more on climate
Climate change activists in New York City. Photo: Spencer Platt/Getty Images
ExxonMobil and Chevron, the biggest U.S.-based global oil giants, will face pressure to do more on climate change at their annual shareholders meetings today.
Why it matters: Investors have been pushing for climate-related commitments on the industry overall, but Exxon and Chevron have been less willing than European counterparts like Shell and BP.
Where it stands: Among other votes, resolutions urging creation of a board committee on climate change will come up at both meetings.
- Chevron's investors will also vote on a resolution urging the company to cut carbon "in alignment" with the Paris agreement's temperature goal.
What's next: I'd be surprised if they pass over their boards' recommendations to vote no, but will be watching to see how much support they garner.