Search EthicalCorp.com
Ethical Corporation Magazine: Click cover to browse latest issue
• Haiti rehabilitation
ILO steps in
• Social media
New activist resource
• Infant formula
Still non-compliance
• Mobile phones
Do health dangers remain?
Cap and trade Co2 "upstream", says Exxon
Related articles:
- ExxonMobil is confused about climate transparency
- Canada and the environment - Gored on climate change
- BP and Exxon - Repairing the trust pipeline
- BP’s misfortunes - Evaporating reputation
- Climate change - Future-proofing and the fossil fuel industry
- Venezuela: Life in the land of 21st century socialism
- Human rights and corporate contracts - Whose country?
- Chevron and energy advertising - Better late than never
Archive:
Exxon Mobil: A proud oil giant comes to the climate change policy table
The world’s largest company by revenue is determined to make its mark on global climate change policy. But is it too little too late? Some critics think so
But Cohen is the man Greenpeace says is the architect of Exxon’s funding of organisations that oppose the mainstream agenda of trying to curb manmade climate change. Greanpeace and other environmental groups also say that Exxon has no interest whatsoever in developing renewable energy facilities.
After years of public and private fighting over oil spills and, more recently, climate change, it is today plain to see that Exxon and Greenpeace simply loathe each other.
© Copyright Ethical Corporation 2009
You may share using our article tools. Please don't cut articles from EthicalCorp.com and redistribute by email or post to the web. Please note that your account is for use by the subscriber only. Your login details should not be passed on to others. If you would like to license EC copyrighted content for your company or clients, please contact Andrew Bold on andrew.bold@ethicalcorp.com.
Sign up to weekly e-Brief
Conferences
- Learn vital anti-corruption, ethics and compliance best practice and strategies at foremost European Summit
2–3 November 2010, London - How to engage suppliers in sustainability – your blueprint to delivering profitable efficiency
9–10 November 2010, London - The future of reporting on Corporate Responsibility – evolving reports, new communications strategies and better engagement
25–26 November 2010, London - FROM OUR SISTER COMPANY
How to use social media for better marketing and communications for your business – new European focus
18–19 November 2010, London - Water – benchmarks, standards and proven strategies for better management, risk mitigation and efficiency
8–9 December 2010, London - Find out about upcoming events, subscribe to EC conference updates
Comments:
Exxon shareholder resolution - Anonymous Anonymous, 6 Jul 2007
Dear Mr. Webb,
Thank you for your recent piece regarding the controversy about Exxon Mobil and its stance on climate science. I wanted to respond to your points regarding shareholder proposals at the company. You note that my firm, Christian Brothers Investment Services, filed a resolution on climate science at Exxon Mobil which received 10% of the vote. We did do so - in 2005, the same year the Kyoto compliance resolution also mentioned in your article was filed.
This year, a resolution co-filed by us and a group of religious shareholders led by the Tri-State Coalition on Responsible Investment asked the company to set targets for its greenhouse gas emissions from operations and products. This resolution received a record 31% of the vote at the annual meeting. While 31% is not a majority, it is an excellent vote for a social proposal, especially one asking for a company policy change. Given the tendency of many investors, especially mutual funds, to automatically defer to management on social issues, persuading nearly a third of shareholders to demand action from companies is a significant acheivement. Many companies respond positively to resolutions that receive far lower vote totals, and even Exxon Mobil CEO Rex Tillerson acknowledged privately that he takes seriously any sharheolder proposal that receives greater than a 30% vote.
Thank you for allowing me to offer our perspective.
Sincerely,
John K. S. Wilson
Director - Socially Responsible Investing
Christian Brothers Investment Services, Inc.
90 Park Avenue
29th Floor
New York, NY 10016
(p) 212-490-0800x1918
(f) 212-490-6092
(e) jwilson@cbisonline.com
http://www.cbisonline.com
Post your comment by using the form below: