Environmental advocacy group As You Sow (Oakland, CA) announced that it has withdrawn its shareholder proposals with Chevron and Phillips 66 since Chevron Phillips Chemical Co. (The Woodlands, TX), which is jointly owned by the two companies, has agreed to start reporting spills of pre-production plastic pellets. As You Sow reached a similar agreement with ExxonMobil last month. These pellets, also called nurdles, are believed to be a significant source of ocean plastic pollution, according to As You Sow.
As You Sow routinely files shareholder proposals with large corporations to, in its words, foster transparency. In the case of Chevron Phillips and other plastics producers, visibility “is essential to enable policy makers and other stakeholders to assess the scope of this growing problem [of plastic pellet spills],” said Senior Vice President Conrad MacKerron.