CBIS Rallies Investor Support for Proposal on Climate Disclosure at ExxonMobil Annual Meeting
On Wednesday, May 31st, Assistant Director of Catholic Responsible Investing Tracey Rembert will be speaking at ExxonMobil’s (Ticker: XOM) annual meeting and urging fellow shareholders to support Proposal 12 on the ballot, which encourages ExxonMobil to improve disclosure regarding the resilience of its reserves and strategy under a 2° C business environment. This request aligns with the primary goal of the Paris (climate) Agreement, which ExxonMobil supports. CBIS co-filed the shareholder resolution, along with 53 other institutions representing $5 trillion in assets under management, and helped mobilize faith-based and large institutional investors globally to support the request.
The Interfaith Center on Corporate Responsibility (ICCR) issued a press release urging shareholders to vote “Yes” on the proposal. “ExxonMobil is still banking on an energy future that looks a lot like the past,” said Tracey Rembert, Assistant Director of Catholic Responsible Investing. “Yet technological disruption, climate policy, and increasing weather extremes may derail that dated vision–possibly within the lifespan of some of the company’s existing oil and gas projects.” You can view the full press release online.
ExxonMobil is hosting a live webcast of the annual meeting. If you are interested in joining the webcast, click here to view the event.