Exxon Mobil has become a litmus test for investors’ seriousness about tackling climate change. AntonyMCurrie
New York State Common Retirement Fund and the Church Commissioners for England on May 3 said in a regulatory filing that they would vote against Exxon Mobil’s recommendations on several resolutions at the company’s annual meeting on May 29.
The move comes a month after the Securities and Exchange Commission allowed Exxon to exclude from the meeting’s agenda the two shareholders’ resolution seeking emissions-reduction targets from the U.S. oil giant. Both investors will vote against all Exxon directors. They will also vote in favor of three shareholder resolutions: to split the roles of chairman and chief executive; to establish a climate-change board committee; and to produce a report on lobbying.
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