USA: Chevron investors back proposal for more emissions cuts
"Chevron investors back proposal for more emissions cuts", 26 May 2021
Chevron Corp (CVX.N) shareholders on Wednesday voted in favor of a proposal to cut emissions generated by the use of the company's products, a move that underscores growing investor push at energy companies to reduce their carbon footprint.
Shareholders voted 61% in favor of the proposal to cut so called "Scope 3" emissions, according to a preliminary count announced by Chevron at its annual general meeting.
Although the proposal does not require Chevron to set a target of how much it needs to cut emissions or by when, the overwhelming support for it shows growing investor frustration with companies, which, they believe, are not doing enough to tackle climate change...
Chevron has pledged to limit carbon emissions that contribute to climate change, but has not set long-term targets to achieve net zero as many European oil companies have done.