Exxon Mobil Corp and Chevron Corp shareholders on Wednesday overwhelmingly rejected calls for stronger measures to mitigate climate change, dismissing more than a dozen climate-related proposals at their annual meetings.
, protesters still stormed their shareholder meetings this year, seeking a faster shift away from fossil fuels. Their demands similarly failed."There is no single oil major that really wants to transition," said Mark van Baal, founder of activist group Follow This, which suffered resounding losses at several meetings. "They all want to hang on to fossil fuels as long as possible.
That resolution received less than half of the support 11% of vote cast compared with 27% from the group's emission reduction proposal last year. Exxon holders rejected all 12 shareholder proposals, the majority of which dealt with climate-related issues. None received a majority of votes cast that would signal a win, according to early results.
A proposal to increase Exxon's methane gas measurement reporting won 36% of votes cast, the largest for any climate initiative. A methane gas reporting request last year had received 51% of votes.
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