ExxonMobil tried unsuccessfully to oppose our shareholder resolution on climate change at the U.S. Securities & Exchange Commission earlier this year. Now shareholders are set to vote on our proposal at the company’s upcoming annual meeting.
What: Vote on CBIS Shareholder Resolution (Item 6 – Report on Scenario Analysis)
Where: ExxonMobil Virtual Annual Meeting
When: Wednesday, May 26 at 9:30 a.m. CDT*
How to Watch: virtualshareholdermeeting.com/XOM2021
CBIS CIO John Geissinger will address Exxon’s Board of Directors, Chairman & CEO Darren Woods, and fellow shareholders prior to the vote. After rallying investor support for weeks, CBIS will have one last opportunity to make the case for our proposal, which urges Exxon to issue an audited report on the potential business impacts of declining fossil fuel demand.
The resolution is part of our ongoing active ownership work to promote care for creation, as CBIS believes Exxon can help lead the shift to a low-carbon economy. However, we feel that won’t happen until the company understands the financial risks it faces from the energy transition.
We are not alone in our belief that the report we are requesting would provide meaningful and actionable information to shareholders. Major proxy advisors around the globe, including Institutional Shareholder Services (ISS) and Glass Lewis, have recommended their clients vote in favor of our resolution.
Check back for updates on this groundbreaking active ownership initiative!
*You can log in as a guest starting 15 minutes prior to the meeting.
Attending as a Guest
Shareholders who do not pre-register for the virtual Annual Meeting or who do not have their 16-digit control number may still attend the meeting virtually as a guest by accessing the annual meeting website, www.virtualshareholdermeeting.com/XOM2021, beginning 15-minutes prior to the annual meeting’s scheduled start time and following the instructions provided to attend as a Guest.
Guests at the virtual annual meeting will be able to listen to the meeting but will not be able to vote nor submit a comment or question during the annual meeting.
The securities identified and described do not represent all of the securities purchased, sold or recommended for CUIT Funds, CBIS Global Funds and separate managed accounts. The reader should not assume that an investment in the securities identified was or will be profitable.