Seventh Generation Interfaith Executive Director Fr. Mike Crosby is cited in historic shareholder resolution requiring ExxonMobil to report its greenhouse gas emission rates to corporate shareholders.
ExxonMobil management was defeated Wednesday by a shareholder rebellion over climate change, as investors with 62.3 percent of shares voted to instruct the oil giant to report on the impact of global measures designed to keep climate change to 2 degrees centigrade.
ICCR believes the ability to attend annual stockholder meetings in person is a fundamental tenet of shareholder democracy. The annual meeting provides shareholders with a critical accountability mechanism to assess, challenge and evaluate management performance through an open exchange
with board and management.
Nevertheless, there is a growing trend among several high profile corporations – including ConocoPhillips, Comcast, Duke Energy, Ford Motor Company, HP, Intel and Biogen – that would eliminate in-person stockholder meetings in favor of virtual-only (webcast) meetings.
Read the full text of ICCR’s statement in support of in-person shareholder meetings.
Demonstrating strong investor opposition to special interest efforts to weaken key elements of the shareholder resolution process (SEC rule 14a-8), a group of leading investor organizations representing $65 trillion in assets wrote last week to the Trump administration urging support for the SEC’s existing shareholder proposal process, which is providing wide-ranging benefits.