ExxonMobil Investors Demand Climate Change Resolutions

Backed by over 28% of ExxonMobil’s largest shareholders (Over $80 billion in market value), including the CalPERS and CalSTRS public pension funds in California, and the Institutional Shareholder Services (ISS), a resolution that the company’s board of directors undertake a comprehensive review on how it will meet the greenhouse gas reductions targets in countries participating in the Kyoto Protocol was requested yesterday.
According to Mindy S. Lubber, president of Ceres, a coalition of investors and environmental groups that has been coordinating shareholder filings with oil and gas companies:

Today’s vote sends a loud and clear message that shareholders want and deserve more action from ExxonMobil on the climate change issue, which will have significant long-term financial ramifications for the company and its investors.

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