EXXONMOBIL – Investor Engagement Report

Climate change poses a substantive risk to global financial stability and the retirement savings of millions of people around the world. At the Paris Climate Summit world leaders pledged to limit global warming to a maximum 2ºC. Bank of England Governor and chairman of the international Financial Stability Board Mark Carney has warned that action to tackle climate change could leave fossil fuels and other high-carbon investments as worthless, stranded assets. The transition to a low-carbon economy is likely to lead to a significant reduction in the value of many companies which have powered our fossil fuel economy, with serious consequences for the pension funds, insurers and other shareholders who own them, and the ordinary people whose pensions and policies they administer.

It is against this backdrop that the Exxon 2016 AGM became a key focus for many stakeholders and provided a unique snapshot of the state of investor collaboration, the current success of company engagement as a way to mitigate climate change, the degree of resistance by the supermajors and the accountability crisis within the investment chain.

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There is significant hypocrisy in the industry with 45% of the largest PRI signatory shareholders and 25% of the largest CDP signatory shareholders voting against the Climate Resolution.

The report, EXXONMOBIL – Investor Engagement Report can be downloaded above.


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Published on: 6th September 2016

Filed Under: Reports, Resources

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