MARATHON PETROLEUM CORPORATION | Report on just transition at MARATHON PETROLEUM CORPORATION
How other organisations have declared their voting intentions
|Declared voting intentions
|KBI Global Investors
|The company published its first just transition report in March 2022 framing its commitments and engagement with stakeholders to address the potential social impacts of the energy transition. The company asserts that its just transition report is informed by the ILO Just Transition Guidelines and that it incorporated elements of the Climate Action 100+'s Net-Zero Benchmark's Just Transition Indicator. The report does not contain goalsetting or specific, time-bound targets to track performance and metrics for success, though it publishes related data in its annual sustainability report. In addition, Marathon lists its enhanced employee benefits package to employees who were impacted by staffing reductions which included enhanced severance payments, continued insurance coverage, out-placement assistance, and more. However, shareholders would benefit from additional disclosure on the potential social impacts that transitioning to a low carbon economy might have on the company and its operations. Such information would allow shareholders to better assess the company's efforts to manage and mitigate those risks.
|CoreCommodity Management, LLC
|Kutxabank Gestion SGIIC SAU.
|Although we are broadly supportive of a company's disclosure of how it intends to ensure workers are considered through the climate transition, we believe that the Company's current reporting satisfies this disclosure and we do not believe that the proponent has identified areas where such disclosure could be meaningfully improved.
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