Shareholders are calling on oil companies to reduce carbon dioxide emissions «kleinezeitung.at

Investors put pressure on US oil companies ExxonMobil and Chevron to protect the climate.

2.20 PM, May 27, 2021

© Agence France-Presse

The two American oil companies ExxonMobil and Chevron They are under pressure from their shareholders, To do more to protect the climate: At least two members of the “No. 1 Engine” activist group were elected to ExxonMobil’s board of directors on Wednesday, with other results still pending due to the tight result.

An investor group recently had one Campaign for more climate protection And calls have started from ExxonMobil Decline in oil and gas in favor of renewable energies. ExxonMobil shareholders also voted The majority of the decision, Which obliges the US energy company to report whether it is doing so The pressure is aligned with Paris’ climate protection goals. ExxonMobil – just like Chevron – has struggled with this over and over again in the past Emphasizes the need to continue to invest in oil and gas. However, in recent months companies have announced new initiatives to protect the environment.

A call to curb greenhouse gases

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

It wasn’t until Wednesday afternoon when a court in The Hague obligated the oil giant Shell to meet stringent climate protection goals, and consequently a lawsuit was upheld by several environmental protection groups. Accordingly, the company should reduce its carbon dioxide emissions by 45 percent by 2030 compared to 2019. The plaintiffs and ultimately the court also found that the targets previously set by the company itself were too low to meet global climate protection targets.

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