Exxon Investors Rally to Back Climate Change Plan Opposed By Exxon Board | Bloomberg

Almost 90 Exxon Mobil Corp. investors plan to back a proposal that would pressure the company to bolster its disclosure of climate change risks and opportunities.

The shareholders include the New York State and city pension funds and the California Public Employees’ Retirement System, according to data compiled by investor advocacy group Ceres. Vanguard is evaluating the proposal in line with its proxy policies.

“Vanguard, like other investors, views direct engagement with the board as a critical channel through which important matters can be discussed,” said Glenn Booraem, the firm’s investment stewardship officer. “Directors at any company who don’t engage with those on whose behalf they serve risk losing investor support.”

The proposal will be taken up at Exxon’s annual meeting on May 31 in Dallas.