OCCIDENTAL PETROLEUM CORPORATION | Request for Reasonable Assurance of Global Emissions Data at OCCIDENTAL PETROLEUM CORPORATION

Status
Omitted
Previous AGM date
Resolution details
Company ticker
OXY
Lead filer
Vermont Pension Investment Committee (VPIC)
Resolution ask
Report on or disclose
ESG theme
  • Environment
ESG sub-theme
  • GHG targets / emissions
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Energy
Company HQ country
United States
Resolved clause
Shareholders request that Occidental Petroleum Corporation (“Oxy”) commission an independent third party to provide reasonable assurance (rather than limited assurance) on the company’s global greenhouse gas (GHG) emissions data, as disclosed in its annual climate and sustainability reports.
Supporting statement
Supporting Statement Oxy currently obtains limited assurance on its reported GHG emissions data. 1 Limited assurance provides only a moderate level of confidence and is generally based on less extensive procedures than reasonable assurance, which is the highest level of assurance available for non-financial disclosures. The Ceres Assurance Report: Closing the Gap 2024 highlights that, “Reasonable assurance provides a higher level of confidence in the accuracy and completeness of reported emissions data, supporting robust decision-making and risk management for both companies and investors.”2 Investors increasingly rely on emissions data to assess climate risk, set portfolio decarbonization targets, and engage with companies on transition planning. Limited assurance may not be sufficient to meet these needs, especially as climate-related financial risks and opportunities become more central to capital allocation decisions. By evolving from limited to reasonable assurance, Oxy will demonstrate its commitment to transparency, accountability, and climate leadership. We urge you to vote in favor

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