Exxon Mobil Corporation | Director votes - climate oversight at Exxon Mobil Corporation

Status
Voted
AGM date
Previous AGM date
Proposal number
1
Resolution details
Company ticker
XOM
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
  • exxon exempt solicitation_majority action.pdf Download
Whereas clause
The Church Commissioners and Majority Action have expressed their intention to vote AGANST proposal 1 (director elecitons) at Exxon Mobil's upcoming 2023 AGM.

Votes are recommended AGAINST:
• Darren W. Woods, CEO and Chairman (Item 1.12),
• Joseph L. Hooley, Lead Independent Director (Item 1.07), and
• Susan K. Avery, Chair of the Environment, Safety and Public Policy Committee (Item 1.02)
Supporting statement
The Church Commissioners, which manages the Church of England’s £10bn endowment fund, will vote against all directors at the upcoming AGM of Exxon in response to their failure to meet climate change objectives.

“High energy prices produced huge profits at oil and gas companies last year – a golden opportunity to invest very significantly in the transition to a low carbon economy, and one that was comprehensively missed,” said Olga Hancock, Acting Head of Responsible Investment at the Church Commissioners. “So we will be supporting all the relevant climate resolutions, and voting against all of their directors.”

For more details, access https://www.churchofengland.org/media-and-news/press-releases/church-commissioners-vote-against-directors-exxon-occidental-shell
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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/

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