Exxon Shareholders Approve Climate Impact Report In Win For Activists

"DALLAS -- Exxon Mobil Corp shareholders on Wednesday approved a proposal calling for the company to disclose the impact of compliance with global climate change guidelines on its business, an issue central to probes by two state attorneys general.

A preliminary tally showed the non-binding proposal passed with 62.3 percent of ballots cast, the world's largest publicly traded oil company said. The increase from last year's 38 percent support for a similar report signaled that the non-binding proposal was backed by at least some of Exxon's top institutional shareholders.

Exxon had opposed the proposal, saying it already tests its business for impacts from changing technology and energy demand using a range of scenarios. It also stepped up efforts this year to defeat the proposal by calling and lobbying shareholders."

Gary McWilliams reports for Reuters May 31, 2017.

SEE ALSO:

"Exxon Mobil Shareholders Call for Accounting of Climate Rules" (New York Times)

"Exxon Shareholders Approve Climate Resolution: 62% Vote for Disclosure" (InsideClimate News)

"Exxon Vote Shows Wall Street Diverging From Trump On Climate Change" (Reuters)