DEVON ENERGY CORPORATION | Director votes - climate oversight at DEVON ENERGY CORPORATION

Status
Voted
AGM date
Previous AGM date
Proposal number
1
Resolution details
Company ticker
DVN
Submitted by
-
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Environment
ESG sub-theme
  • Net Zero / Paris aligned
Type of vote
Director vote
Filer type
Management
Company sector
Energy
Company HQ country
United States
Supporting materials
  • Majority action_director votes Devon energy.pdf Download
Whereas clause
Majority Action is recommending investors vote against directors at Devon Energy Corp [NYSE: DVN] due to the company’s FAILURE to:

● Commit to reducing all greenhouse gas (GHG) emissions to net zero by 2050, including its scope 3 emissions,
● Align its capital allocation with limiting warming to 1.5°C, and
● Make a specific commitment to conduct all of its lobbying in line with the goals of the Paris Agreement, and its general opposition to U.S. federal and state climate policy;

Votes are recommended AGAINST:

● Barbara M. Baumann, Chair of the Board (Item 1.1), and
● Kelt Kindick, Lead Director and Chair of the Governance, Environmental and Public Policy Committee (Item 1.5)

Supporting statement
Majority Action is recommending investors vote against directors responsible for climate oversight, including board leadership, for failure to set adequate net zero targets reducing greenhouse gas emissions, fully realign investment plans to limit warming to 1.5°C, and/or ensure alignment of policy influence activities with 1.5°C pathways.

For more details, acess: https://www.proxyvoting.majorityaction.us/

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
MNAgainstWe vote against the re-election of the directors, as the board does not sufficiently address climate related risks. Moreover, Devon does not have Paris aligned GHG-reduction targets.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.