Votes Remind Us Corporate Boards Work for Shareholders

Shareholders Make Their Voices Heard at Exxon & Chevron

Votes Remind Us Corporate Boards Work for Shareholders, Not Management

At ExxonMobil’s annual meeting May 26, 49% of shareholders voted in favor of our proposal urging the company to report on its financial risks from reduced fossil fuel demand. On the same day, an identical resolution at Chevron filed by As You Sow—a CBIS ally—received 48% of the vote.

That level of support is incredible for a proposal appearing on the ballot for the first time, but consistent with other shareholder successes on climate issues at Exxon and Chevron. These results could mark an important turning point in the fight against climate change.

Read CBIS CIO John Geissinger’s observations on events at Exxon and Chevron, and what they say about the relationship between corporate boards and shareholders.

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