Reuters – Big U.S. investors at the top five western oil firms’ shareholder meetings this year rebuffed an activist group’s resolutions to align their emission targets with the Paris climate pact, in contrast to some European peers, voting data showed.
Netherlands-based activist group Follow This was created first to target Shell and subsequently expanded to file climate resolutions at other western majors including BP, Exxon Mobil, Chevron, and TotalEnergies.
According to the data published by it and investors, giant U.S. investors BlackRock, Vanguard, State Street, and JPMorgan all voted against the Follow This resolutions this year.
“Investors hold the key to tackling the climate crisis with their shareholder voting power at Big Oil. Amundi, Allianz, and UBS use their voting power to mitigate the climate crisis,” said Follow This founder Mark van Baal.
