Shareholders Push Chevron to Align With Paris

Shareholders Push Chevron to Align With Paris
AP Photo/Richard Drew, File

Proposals by the Climate Action 100+ investor signatories calling on major oil and electric power companies to disclose lobbying activities and improve governance on climate change earned record support during the latest shareholder proxy season.

Notably, a 53% majority of shareholders at Chevron Corp. CVX, -2.08% voted for a resolution seeking a commitment from the oil giant to align its climate-policy lobbying activities with the goal of the Paris Agreement, an international voluntary effort that aims to keep global average temperature rise to below 2 degrees Celsius, and ideally limit it to 1.5 degrees.

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