New York State and the UK’s Church Commissioners will vote against the entire board of ExxonMobil again this year in response to the US oil giant’s continued “recalcitrant” approach to climate change.
Both investors lead on engagement with the Texas-based firm as part of Climate Action 100+, the multi-trillion-dollar initiative targeting the world’s dirtiest companies.
Last year, the duo announced in an SEC filing that they would vote against Exxon’s board, and called on other investors to support a proposal to introduce an independent Chair.
That call followed Exxon’s successful blocking of several climate proposals, including two co-filed by the Church Commissioners, via the US Securities and Exchange Commission’s (SEC) ‘no action’ process.
Exxon’s long-standing pattern of opposition to shareholder proposals has continued this year after the SEC ruled on Friday that both Exxon and fellow US oil major Chevron may exclude a shareholder prop…