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In yesterday’s article we at Preventable Surprises looked at those fund managers that voted against this year’s investor resolutions at Exxon, Chevron and Southern Company based on the historic Paris Agreement to reduce global greenhouse gas emissions. The resolutions asked the energy majors to stress test their portfolios against a scenario where the 2°C Paris goal is achieved. The resolutions gained almost 100% support at BP, Shell and Statoil, but only around 40% at Exxon, Chevron and Southern Company, including large fund managers that voted against. Our campaign – the Missing60 – has been asking why those 60% voted against the same resolutions passed at other oil majors.
The situation is far from bleak, however.
While many large investors are not judging climate change as a material, immediate risk to their portfolios, the fund managers listed below supported the disclosure …