New Shareholder Resolution Incentivizing Big Oil's Transition to Clean Energy, Wins at SEC

Shareholder Advocate, As You Sow, Defeats Exxon on Push for Climate-Friendly Accounting

Exxon currently accounts for its energy assets in "barrels of oil equivalent." As You Sow noted in its SEC reply, that this accounting measure discourages a low carbon transition by linking the calculation of a company's assets, and therefore its value, to carbon based-metrics. The resolution proposes reporting company energy resources neutrally, by category, so that all resources – including solar, wind, biofuels, geothermal, and other renewables -- will be accounted for as BTUs and valued. This metric decouples Exxon and its shareholders from oil's declining profitability, its escalating climate damage, and Exxon's decreasing ability to economically replace its oil reserves.

As You Sow is simultaneously filing a petition with the Security and Exchange Commission (SEC) to change its reporting requirements to an energy neutral metric, which will free the oil industry as a whole from oil-dependent financial valuation.

EnergyAs You SowMarch 25, 2016climate change

Investor scorecard illustrates rising importance of transparency

And they’re grading just how transparent operators are about those operations. As You Sow, Boston Common Asset Management and the Investor Environmental Health Network in December issued its third “Disclosing the Facts” scorecard ranking the 30 largest oil and gas companies using hydraulic fracturing.

EnergyAs You SowFebruary 11, 2016Hydraulic Fracturing, climate change