In advance of the upcoming ExxonMobil Annual General Meeting (AGM) on May 27, CBIS voted its proxy ballot on 11 issues including supporting a resolution co-filed by CBIS to adopt quantitative greenhouse gas emissions reduction goals. A report on how CBIS is voting the ExxonMobil ballot, as well as the ballots of all of our portfolio companies, can be found in the proxy voting database on our website.
The work at ExxonMobil is part of a broader effort to address corporate policies concerning climate change and environmental stewardship. CBIS declared support for a similar resolution filed in advance of the Chevron AGM, which will also take place on May 27, and recently experienced success with resolutions co-filed with BP and Royal Dutch Shell asking the companies to outline steps they are taking in the transition to a low-carbon economy and their executive incentives and public policy positions relating to climate change. The BP and Shell resolutions both received historic levels of support from shareholders, with votes in favor of 98.2% and 98.8%, respectively.
Although the resolution at ExxonMobil is more specific than those filed with BP and Shell and has not received backing of the board of directors, we believe our recent successes demonstrate that active ownership is an effective means of generating positive change at companies consistent with the principles of Catholic Responsible Investing. We encourage shareholders of ExxonMobil and Chevron to support these resolutions.