Climate change debate in the focus at Exxon’s annual meeting
Posted May 29, 2019 01:08:52 PM.
This article is more than 5 years old.
DALLAS — Activist shareholders are using Exxon Mobil’s annual meeting to accuse the company of failing to confront a future that may include stricter regulations to limit climate change caused by burning fossil fuels.
A representative of the Church of England’s endowment fund said Wednesday that Exxon has moved more slowly than other major oil companies to disclose information about emissions.
Chairman and CEO Darren Woods defended the company, saying “we are doing our part” by providing energy that people need while also reducing emissions from its own operations.
Exxon successfully petitioned the Securities and Exchange Commission to block a shareholder vote on setting targets for reducing carbon emissions from burning oil and gas.
Exxon’s 2018 profit rose 6% to $20.8 billion as higher prices offset a 4% decline in production.
The Associated Press
