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Shareholders Mandate Exxon to Assess Long-term Impacts of Climate Change

By Liz McDowell, SumOfUs.org  Posted by Daniel Geery (about the submitter)       (Page 1 of 1 pages)     Permalink    (# of views)   1 comment

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Wow. Score a big one for people and the planet!

In an unprecedented move, Exxon shareholders just voted overwhelmingly in favour of a policy forcing the oil giant to assess the long-term impacts of climate change. The entire executive board at Exxon opposed the climate-friendly motion. But when it came time for the vote, 62% of shareholders voted against big oil execs and took a stand for the climate instead.

And you helped make this happen.

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Ahead of the big AGM vote, over 3,500 SumOfUs members contacted more than 200 separate pension funds, calling on these big investors to vote in favour of the shareholder resolution. Dozens of fund managers responded to us directly, saying that they received more messages from clients than they could reply to.

This historic move shows that we're on the brink of something huge -- the biggest polluters in the world are finally being forced to take responsibility for their mess. It's no longer a world where CEOs and corporate executives can sit back and count their profits while the world burns.

And this is all due to the incredibly hard and courageous work of those who've been building an activist shareholder movement for years, including faith-based investors, progressive pension funds, organizations like Ceres, As You Sow and the Asset Owners Disclosure Project -- and you!

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Trump's rejection of the Paris Agreement shows us that our collective work keeping this planet safe has never been more important. Congratulations on this massive win. Let's keep making the future safer, together.

Thanks for using your pension funds to make a difference,

Liz, Michael, Lisa and the rest of the SumOfUs team

P.S. This win is huge, but we have to keep up the pressure on all fronts. If you haven't already, please join our campaign demanding that the CEOs on Trump's advisory council step down. There can be no collaborating with climate deniers anymore. The stakes are too high.

More information:

Exxon Shareholders Approve Climate Resolution: 62% Vote for Disclosure, Inside Climate News, May 31, 2017
Shareholders force ExxonMobil to come clean on cost of climate change, The Guardian, May 31, 2017

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In my run for U.S. Senate against Utah's Orrin Hatch, I posted many progressive ideas and principles that I internalized over the years. I'm leaving that site up indefinitely, since it describes what I believe most members of our species truly (more...)
 

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