Exxon & Chevron Face Shareholder Challenges On Climate Change
By Staff of PR Newswire - DALLAS, May 30, 2017 /PRNewswire/ -- ExxonMobil and Chevron will host simultaneous annual meetings on Wednesday, May 31 in Dallas and Midland, TX respectively, and face shareholders who want the oil giants to start dealing with the realities of life in a carbon-constrained world. At Chevron (proposal #8), a first-time resolution filed jointly by Arjuna Capital and As You Sow, with co-filer Baldwin Brothers Inc., asks for a detailed report assessing how the company can respond to climate change and the resultant transition to a low-carbon economy. The proposal asks Chevron to evaluate the feasibility of altering the company's energy mix, separating or selling its highest carbon-risk assets, divisions, and subsidiaries, and/or buying or merging with companies with outstanding assets or technologies in low carbon or renewable energy.