Exxon Mobil Corporation | Report on asset retirement obligations under IEA scenario at Exxon Mobil Corporation
How other organisations have declared their voting intentions
|Declared voting intentions
|Christian Brothers Investment Services, Inc.
|Despite the majority vote, it is the opinion of the Proponents, backed by independent analysis from Carbon Tracker Initiative , that Exxon’s disclosures , including its Advancing Climate Solutions Progress Report 2023, do not fulfill the requests set out in the current Proposal, nor the intent of the 2022 proposal, for a report to make visible how using IEA NZE inputs would impact the financial statements, on a dollar and timing basis.
Why Support Item 12:
• Accounting treatment of AROs is one of the key indicators of an oil and gas company’s understanding and acknowledgement of climate risk;
• Disclosure on AROs and how Exxon manages and mitigates risks stemming from the global energy transition is material information to shareholders;
• Exxon’s financial statement and sustainability disclosures provide insufficient information and lack quantitative data, confirmed by independent analysis;
• Exxon lags peer disclosures; and
• The Proposal asks only for a report, with flexibility provided to the Board on its contents.
|British Columbia Investment Management Corporation
|We support this shareholder proposal asking the company to incorporate climate risk assessments in its audited financial statements. We believe climate change poses a range of material risks, especially to companies in high-emitting sectors. As such, enhanced disclosure on potential financial impacts would provide investors with additional information to assess related risks and opportunities.
|As shareholders could benefit from additional disclosure on the potential impacts that transitioning to a low carbon economy may 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.
|Irish Life Investment Managers
|Rothschild & co Asset Management
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