Climate-related proposals at ExxonMobil AGM fall short of being adopted despite support from smaller shareholders

Posted by

Shareholders representing a majority of ExxonMobil’s shares voted against climate change-related proposals at the company’s AGM. The proposal received strong support from smaller shareholders but ultimately failed to gain the backing of larger US institutional investors. The proposal to split the company’s Chair and CEO roles, which was seen as a vote on the board’s handling of climate risks, received support from around 41 percent of the shares voted.

The Financial Times, Ed Crookes, May 29th 2019