ExxonMobil Corp will report on how it views the risks climate change could pose to the value of its assets, shareholder activists said on Thursday.
The company agreed to publish a report on areas like how it assesses the risk of “stranded assets” like lower values for its oil or coal reserves if prices fall, the activists said. In return they agreed to withdraw a proposed shareholder resolution calling for such a report at Exxon’s upcoming annual meeting.
An Exxon spokesman did not immediately return messages.
Activists including the As You Sow foundation and Arjuna Capital had brought the resolution, similar to those pending at other energy firms including Chevron Corp and Anadarko Petroleum Corp.
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