ExxonMobil Feeling Hear From Global Warming

Number of shareholders voting in favor of climate change proxy resolution increased from 8.8 percent in 2004 to 10.3 percent at May 25th shareholders meeting.

Published: 27-May-2005

May 26 -- A growing number of ExxonMobil Corp. shareholders called on the world´s largest oil company to address climate change and its effect of on the company´s bottom line.

Shareholders voted on a climate change proxy resolution May 25 at the company´s annual meeting. The unofficial vote showed 10.3 percent of the shareholders favored the resolution, compared with 8.8 percent who favored the same measure last year, said John Wilson, director of socially responsible investing for Christian Brothers Investment Services Inc., which sponsored the resolution.

The resolution asks ExxonMobil to explain the basis for not accepting the scientific consensus that fossil fuel combustion contributes to global warming. It also calls on the company to disclose the costs of mitigating climate change compared to the costs of not doing so.

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