Impact Insight: Exxon Mobil, Climate Change, and Positive Progress

By SNW Asset Management via

Last week a non-binding shareholder resolution was passed at Exxon Mobil with over 62% of eligible investors voting in favor and against management’s recommendation.

While this type of a result in itself is unusual, what is particularly noteworthy about this vote is that it was all about climate change. The proposal codifies a request for the company to report on potential risks related to climate change, including risks arising from emerging technologies and from government policies implemented to address climate change.

Votes in favor of the proposal came from asset owners such as the Church of England and the New York State Comptroller, filers of the resolution, but also from asset managers with concerns about the impact of climate change, most notably Blackrock.

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