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Chevron (NYSE:CVX) shareholders on Wednesday voted against a resolution asking the company to adopt greenhouse gas emissions reductions targets, indicating support for the steps the company already has taken to address climate change.
Just 33% of shareholders voted in favor of the proposal, according to preliminary figures disclosed by the company, after 61% of shareholders voted last year to support a similar proposal.
Another proposal asking for quantitative information on how the International Energy Agency’s “Net Zero by 2050” scenario will affect key components of the company’s financial position won 39% support.
All 12 of Chevron’s (CVX) board nominees were approved easily, and 73% of shareholders approved the company’s executive compensation plan.
The company also said total 2022 capital spending plus announced acquisitions is expected to exceed 2021 levels by more than 50%.
At Exxon Mobil’s annual meeting today, shareholders voted against most proposals related to speeding up carbon emission reductions but approved a report on how a rapid global shift away from fossil fuels would affect the company’s finances.
