ExxonMobil may not block certain shareholder proposals on environment and transparency at the next shareholders’ meeting. The oil and gas giant asked the American stock market watchdog SEC to comment on this, but received zero in the complaint.

The resolutions would oblige the company to set up a climate change committee and to make donations to politicians public. The SEC believes that ExxonMobil has not yet “introduced a substantial policy” in that area, so the regulator believes it is right that shareholders can put such proposals on the agenda.

Earlier this week, ExxonMobil was allowed by the SEC to block another shareholder proposal. That voting point would oblige the group to adhere to the 2015 Paris Climate Agreement. According to the stock market watchdog, the proposal would amount to ‘micro managings’.

Actions to force the oil and gas sector to reduce their CO2 emissions are increasingly taking place at shareholders’ meetings. For example, the climate-active shareholder club Follow This has in recent years submitted a resolution that would force Shell to adhere to the Paris climate agreements. The proposal was repeatedly killed, but Shell ultimately tightened its climate policy.

Load More Related Articles
Load More By WeeklyNews staff
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Robotics class has been donated to school #174 by Kenes Rakishev

On the eve of the national Teacher’s Day, a robotics class was opened at the Gymnasi…