Majority of exxonmobil shareholders reaffirm need for company to account for climate risk

Pressure mounts on oil giant after cbis proposal garners majority of votes chicago , may 27, 2022 /prnewswire/ -- christian brothers investment services, inc. (cbis), a leading catholic, socially responsible investment management firm and registered investment advisor to catholic investors around the world, has reported that a shareholder proposal urging exxonmobil (nyse: xom) to quantify the potential effect on its business of global action to address climate change garnered a majority shareholder vote at exxon's annual meeting. the proposal, filed by a coalition of two dozen faith-based and socially responsible investors led by cbis, urged exxonmobil to issue an audited report assessing the impact of the international energy agency's net zero 2050 scenario (iea nze) on the assumptions, costs, estimates, and valuations underlying its financial statements.
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