- Investors groups will push to meet with Exxon Mobil (XOM +0.2%) officials this summer to discuss a climate impact analysis following yesterday's shareholder vote calling for studies of climate-related risks to its business.
- CEO Darren Woods was vague about XOM's response to the vote, saying the company would reconsider its opposition to the request but not that it would begin discussions or initiate new studies.
- Tracey Rembert, assistant director of Catholic Responsible Investing - one the 54 co-filers of the shareholder proposal - says the group plans to ask for XOM to conduct scenario planning exercises that would look at risks from disruptive technology, climate or government policies.
- Other oil and gas companies should consider themselves on notice, since XOM is the world’s largest publicly traded oil and gas company and the industry standard bearer, although the vote likely will have only minor impact on similar proposals this week at Hess (NYSE:HES) and Devon Energy (NYSE:DVN) since most of the ballots already have been cast.
- Now read: Exxon Mobil (XOM) Investor Presentation - Slideshow
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