International Business Times: US oil companies Chevron Corp., Exxon Mobil Corp face shareholder pressure on climate change issues

Exxon Mobil Corp. and Chevron Corp. are facing pressure from environmentally focused shareholders. At the U.S. oil giants’ annual meetings Wednesday, shareholders are set to vote on a handful of progressive resolutions, including a measure to add a climate change expert to their boards of directors and an initiative to steer investment away from risky and carbon-intensive projects like Arctic oil and gas drilling. The resolutions are part of a larger movement by sustainability advocates to push energy giants to acknowledge their role in contributing to harmful greenhouse gas emissions and to assess the risks companies face if low-carbon policies force them to leave oil, coal and natural gas in the ground. In January, Royal Dutch Shell PLC recommended that its investors approve a resolution requiring the company to disclose its “stranded asset” risks -- a move that environmental groups say validates their years-long efforts.

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