Exxon shareholders back ‘historic vote on climate – BBC News

By Matt McGrath Environment correspondent

Shareholders in Exxon Mobil have backed a motion requiring the company to assess the risks from climate change.

The plan, proposed by investors including the Church of England, was supported by over 62% of those eligible to vote.

The vote comes as US media reports that President Trump is poised to pull out of the Paris climate agreement.

Exxon will now have to consider how global efforts to mitigate climate change will impact their business.

Did Exxon know?

Long seen as the last bastion of opposition to action on rising temperatures, Exxon Mobil is the world’s largest publicly traded oil company.

They’ve recently been under investigation by some state authorities in the US.

They’ve been accused of allegedly concealing information from shareholders on when the company first realised that human emissions of carbon were driving up global temperatures.

Previous attempts by activists to force the company to take the impact of climate change into account failed. Last year, the motion gained just over 38% of shareholder support.

The resolution, filed by the Church Commissioners for England and New York State Comptroller Thomas P DiNapoli, asked Exxon to report on how its business model will be affected by global efforts to limit the average rise in temperatures to below 2C.

…(read more).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s