ExxonMobil: CBIS’ Next Steps
Our work continues at ExxonMobil following the May 31 annual meeting, where over 62% of shareholders voted in favor of a proposal asking Exxon to report various scenarios of low oil and gas demand or increased climate policy that might impact its business.
In an article published by Reuters, Assistant Director of Catholic Responsible Investing Tracey Rembert noted that she believes investors will have an opportunity to meet with Exxon to discuss next steps this summer.
CBIS is now working with other filers on the proposal to reach out to a broad swath of investors, to gather views on best practice for scenario analysis in this sector to better inform ExxonMobil of disclosure most useful to us. “That could include scenarios of technological disruption, peak demand coming sooner than forecasted, aggressive climate policy or carbon pricing, and related matters,” noted Rembert.