A spokesperson for Exxon said: “We respect that our shareholders may have viewpoints and perspectives that differ from management and the board, and we always consider their feedback.”
Exxon Mobil is facing scrutiny from investors over its climate goals
Legal and General Investment Management and Christian Brothers Investment Services have co-filed a shareholder resolution, calling on the energy giant to provide more disclosures on potentially stranded assets post-energy transition. As the lifespan of oil and gas infrastructure is being shortened amid the low-carbon transition, there is a growing chance companies risk holding stranded assets with expensive decommissioning costs.
The two parties believe the disclosures they are seeking will provide insight about how Exxon estimates AROs in financial statements and the effects of IEA net zero obligations.
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