Shareholders put pressure on US oil companies ExxonMobil and Chevron (nd current)

Foto: dpa/AP/Richard Drew

New York- The two US oil companies ExxonMobil and Chevron are getting pressure from their shareholders to do more for climate protection: On Wednesday at least two members of the activist group Engine No. 1 selected, further results were still pending due to the tight outcome The group of investors recently started a campaign for more climate protection and is calling on ExxonMobil to reduce oil and gas in favor of renewable energies. Apparently, the billion dollar US wealth manager Blackrock had changed his position and the candidates of the Activist group supported.

The majority of ExxonMobil shareholders also voted for a resolution that obliges the US energy company to report on whether its lobbying work is in line with the Paris climate protection goals. ExxonMobil, like Chevron, has consistently emphasized the need to keep investing in oil and gas in the past. In the past few months, however, the corporations have announced new initiatives to protect the environment.

At Chevron’s annual general meeting, 61 percent of investors voted in favor of an activist draft calling for the company to reduce the carbon footprint of its products. This increases the pressure on international energy companies to improve their ecological footprint.

It was not until Wednesday afternoon that a court in The Hague committed the oil giant Shell to strict climate protection targets and thus upheld a lawsuit by several environmental groups. Accordingly, the company must reduce its CO2 emissions by 45 percent by 2030 compared to 2019. The plaintiffs and ultimately also the court found the targets previously set by the company itself to be too low to achieve the global climate protection targets. AFP / nd

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