ExxonMobil and Chevron are gambling with YOUR savings – time to switch big oil into clean!
On Wednesday, 25th May, ExxonMobil and Chevron held their AGMs.
This was a historic day, as two of the world’s largest high carbon companies faced an unprecedented shareholder revolt on climate change. Support for a shareholder resolution calling for portfolio resilience to a 2-degree scenario was supported by 41% of investors for Chevron, and 38% for ExxonMobil. This was the highest support ever.
I’m writing to you to find out how you voted my retirement savings. A FOR vote is a vote FOR the future of the climate and the future of my savings. An against vote would have given Exxon and Chevron the green light to continue business-as-usual, slowing the company from preparing adequately for a low-carbon future.
If you voted against the resolutions, I would like to know why.
If you or your fund manager have a default policy position that prevented you actively voting for this resolution, I wish to know how you seek to amend this in the future.
Please note that your response may be featured on the Vote Your Pension website.
I look forward to hearing from you.
Vote Your Pension is the world’s largest global shareholder engagement campaign. We’re calling on people everywhere to make themselves heard at the annual meetings of the world’s largest oil and gas companies. Our first engagement was the Chevron annual meeting on Wednesday May 27, 2015 in San Ramon, California.
We want you, the everyday investor, to use your voice and pressure your pension fund. Pension funds control $ trillions of investments on the stock and bond markets. With investments in companies (like Exxon and Chevron), they have the right to vote FOR or AGAINST shareholder resolutions.
The Vote Your Pension campaign is run by a collaboration of Non-Profit organisations working in the Climate Change corporate arena. The partners are Asset Owners Disclosure Project, SumofUs and ShareAction.
This webpage is not a solicitation of proxies, and no proxies will be accepted by AODP. The purpose and effect of the checkboxes on this page is to indicate a beneficiary’s preferences and recommendation as to how his or her pension fund should vote when it exercises its fiduciary duty to vote its shares.