Investors pressure ExxonMobil on emissions


    The nation’s largest oil company, ExxonMobil, is coming under mounting pressure from shareholders to reduce greenhouse gas emissions, The Houston Chronicle reports.

    Institutional investors in ExxonMobil filed a resolution Monday calling on the Irving, Texas-based company to set and disclose greenhouse gas reduction targets for its products and operations, according to New York State Comptroller Thomas DiNapoli.

    The resolution—the first of its kind at ExxonMobil—calls on the company to set short-, medium- and long-term emissions reduction targets in line with the Paris Climate agreement at a time when other energy companies are also facing investor pressure to reduce emissions. Royal Dutch Shell, for example, recently caved to growing investor pressure and agreed to link executive pay to emission reduction targets.

    Shareholders are expected to vote on the resolution at ExxonMobil’s annual meeting in the spring.

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