ExxonMobil avoids shareholder resolution on plastics pollution after agreement with investors

Oil giant ExxonMobil has avoided having to face a shareholder resolution on plastic pellet pollution after an agreement with investors - though the issue will go to the vote at peer companies like Chevron and Philips 66.

Plastics pollution has risen up the agenda of investors, partly in the wake of the Blue Planet TV programme, and was the subject of a special RI feature earlier this year.

Now, according to a letter from investor group As You Sow to Exxon this month, it has decided to withdraw its proposal "in recognition of the company's statement delivered to proponents agreeing to a public reporting process for plastic pellet spills and remediation.” Read Full Article - Responsible Investor, March 28, 2019