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Exxon faces key climate change vote at meeting

Shareholders say the company's assets could become economically unviable under tougher climate policies

Published Wed, May 31, 2017 · 09:50 PM

New York

EXXONMOBIL'S controversial stance on climate change will be back in the spotlight on Wednesday when shareholders vote on an environmentalist-backed measure calling for an accounting of climate policy risk.

The US oil giant has successfully beaten back shareholder proposals on climate change for years, but they have been picking up momentum and a number of leading institutional investors that supported Exxon previously have signalled they may break ranks this time.

The proposal, submitted by the New York State Common Retirement Fund, seeks an annual assessment of Exxon's asset portfolio under different policy scenarios, including those that limit temperature increases to under two degrees Celsius and are consistent with the 2…

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