Resolutions were filed by shareholder groups requesting the companies supply information on the financial and competitive risks regarding the emission of greenhouse gases and their possible regulation. The resolutions also called for the companies to develop strategies to manage greenhouse gas emissions.
In addressing the shareholder issues, the companies will begin setting greenhouse gas emission targets and developing and investing in low-carbon emission technologies as well as creating internal structures to make emissions strategies a part of core business practices.
“Most of the oil and gas companies are taking climate change more seriously than they were just a year ago. These disclosure commitments are only a beginning, but there’s a much broader recognition from companies that climate change is a serious issue with serious financial consequences for investors if it isn’t well managed,” said Mindy Lubber, president of investor coalition Ceres.
