New York State Common Retirement Fund and the Church of England vow to vote against board at the company’s annual meeting due to inadequate response
New York — A group of Exxon Mobil shareholders launched a proxy fight against the oil company’s directors after failing to get a climate proposal on to the ballot for the company’s annual meeting.
Exxon’s “inadequate response to climate change constitutes a serious failure of corporate governance” they said in a filing on Friday. Scott Silvestri, an Exxon spokesperson, pointed to the company’s proxy statement in which the board recommended that shareholders vote against the investor proposals. In the proxy filing, the company said its full board holds at least one session each year dedicated to climate issues.
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