ExxonMobil shareholders in Dallas to vote on Alberta oilsands resolution
DALLAS – A group of shareholders are asking energy giant ExxonMobil to report on the risks of its investments in Alberta’s oilsands.
A resolution calling for such a report is to be voted on at the corporation’s annual general meeting Wednesday in Dallas.
The proposal calls for information on possible long-term risks to ExxonMobil’s finances by the environmental, social and economic challenges associated with the oilsands.
Emily Stone of Green Century Capital Management says even though the resolution isn’t likely to pass, it will raise awareness about the oilsands.
ExxonMobil’s board is recommending that shareholders vote against the proposal.
Similar resolutions were brought forward earlier this spring at BP, ConocoPhillips and Royal Dutch Shell shareholder meetings.
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