Summary
Exxon Mobil Corporation (XOM) filed an 8-K on December 11, 2017, to announce a decision by its Board of Directors regarding a previously submitted shareholder proposal. The proposal, submitted by the New York State Common Retirement Fund for the 2017 Annual Shareholders Meeting, requested a report on the impacts of climate change policies. After seeking input from various parties, including proponents and major shareholders, the Board has decided to enhance the company's disclosures related to this matter.
Key Highlights
- 1ExxonMobil's Board of Directors has decided to enhance disclosures concerning the impacts of climate change policies.
- 2This decision comes after reconsidering a shareholder proposal submitted for the 2017 Annual Shareholders Meeting.
- 3The company will issue these enhanced disclosures in the near future.
- 4Key areas for enhanced disclosure include energy demand sensitivities.
- 5Implications of two-degree Celsius scenarios will also be disclosed.
- 6The company will also provide information on its positioning for a lower-carbon future.
Frequently Asked Questions
ExxonMobil's Board of Directors decided to enhance disclosures following the reconsideration of a shareholder proposal requesting a report on the impacts of climate change policies, which was submitted by the New York State Common Retirement Fund.
The company stated in the 8-K filing that these enhanced disclosures will be issued in the near future.
The enhanced disclosures will include information on energy demand sensitivities, the implications of two-degree Celsius scenarios, and ExxonMobil's positioning for a lower-carbon future.