Exxon says investors to withdraw climate proposal from annual shareholder meeting
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Exxon filed a complaint in January to block a vote on a climate proposal brought by activists.
PHOTO: AFP
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HOUSTON - Exxon Mobil Corp said in a court filing on Feb 1 that activist investors were withdrawing a climate proposal the oil giant sought to block from being voted on during a shareholder meeting in May.
Exxon filed a complaint in a Texas court
The proposal called for Exxon to set so-called Scope 3 targets to reduce emissions produced by its products. Exxon is the only one of the five Western oil majors which does not have such targets.
Exxon has said the groups were driven by an “extreme agenda” and that their proposals do not serve investors’ interests or promote long-term shareholder value. REUTERS
