he Church Commissioners for England and New York State Common Retirement Fund (NYSCRF) have written an open letter to ExxonMobil shareholders asking them to call for change in the company’s governance and strategy, by their votes on three specific issues at the company’s annual general meeting on 27 May.
Investors are being asked to:
Vote for a shareholder resolution calling for an independent chair of the ExxonMobil board. Tthe current chair is also the company’s CEO;
Take a “strong voting stance” on director election in line with their own voting policies. The Commissioners and NYSCRF will vote against the re-election of the entire board);
Vote for a shareholder resolution requesting an annual report on the company’s lobbying activities, including the amounts paid and recipients.
The two institutions have taken the action as part of the Climate Action 100+ initiative.