Exxon Investors Propose Green Resolutions
ROBERT SMITH, host:
NPR's business news starts with Exxon under pressure.
Rising oil prices have made a lot of money for investors in Exxon, but some of those shareholders want the company to give back a little something to the Earth. At Exxon's annual meeting tomorrow, a group of investors will push a resolution that would require the corporation to reduce its emissions. The activists include Roman Catholic nuns and the family of Exxon's founder, John D. Rockefeller. Another resolution would encourage Exxon to do more research into renewable energy sources.
Shareholder resolutions are nonbinding, however, so board members can just ignore them. Plus, the Rockefeller name may sound powerful, but in reality they own just a tiny share of the company that made them rich.