A record-breaking vote at Chevron

As part of Ceres’ work with investors to underscore strong shareholder support for corporate leadership in reducing methane emissions, 98% of Chevron’s investors voted during the 2022 proxy season in favor of a shareholder resolution calling on the company to report on the reliability of its methane emissions disclosures. The important vote was flagged by the Climate Action 100+ initiative.

Proxy season wins at ConocoPhillips and Phillips66

At the ConocoPhillips and Phillips66 2021 annual meetings, resolutions seeking emissions reduction targets, both filed by Follow This and supported by Ceres, obtained historic majority shareholder approval. Another key resolution was filed requesting that Phillips66 issue a report on whether its lobbying activities are consistent with the goals of the Paris Agreement. The lobbying resolution vote was among the many flagged by the Climate Action 100+ initiative.

Board of directors shake up at ExxonMobil

In a dramatic shake up in 2021, a majority of ExxonMobil shareholders voted to replace two of the oil major’s board of directors with an alternative slate of candidates experienced in clean energy and energy transitions. Ceres Investor Network members and signatories of the Climate Action 100+ initiative were among the shareholders who voted for the board of directors nominated by Engine No. 1.

Methane and GHG regulations

In 2021, Ceres organized 168 investors representing $6.23Tin assets under management to call on the U.S. EPA to issue comprehensive regulations to curb dangerous methane and greenhouse gas emissions — and more stringent enforcement mechanisms to back them up. Occidental, Devon, Shell and bp, all engaged by investors as focus companies of Climate Action 100+, also spoken out in favor of strong regulations.

In 2020, our work with investment firm Engine No. 1 and Enviromental Defense Fund (EDF) led to ConocoPhillips, Devon, Occidental, and Pioneer a joining the Oil and Gas Methane Partnership 2.0, an alliance working to ensure accurate detection, quantification, and reporting of methane emissions.