Chevron shareholders reject proposal for full accounting of climate risks

Chevron shareholders reject proposal for full accounting of climate risks (NYSE:CVX)

May 25, 2022 by Seeking Alpha

Key Facts

  • jetcityimage/iStock Editorial via Getty Images Chevron (NYSE:CVX) shareholders on Wednesday voted against a resolution asking the company to adopt greenhouse gas emissions reductions targets, indicating support for the steps the company already has taken to address climate change.
  • Just 33% of shareholders voted in favor of the proposal, according to preliminary figures disclosed by the company, after 61% of shareholders voted last year to support a similar proposal.
  • Another proposal asking for quantitative information on how the International Energy Agency's "Net Zero by 2050" scenario will affect key components of the company's financial position won 39% support.
  • At Exxon Mobil's annual meeting today, shareholders voted against most proposals related to speeding up carbon emission reductions but approved a report on how a rapid global shift away from fossil fuels would affect the company's finances.

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