Two of the world’s largest oil and gas companies—Chevron and Occidental Petroleum —have responded to shareholder resolutions filed by Wespath Investment Management (Wespath)* asking the companies for greater transparency on how they are preparing for a low-carbon future. The companies released their reports last week.
Wespath welcomes the latest disclosures, which respond to global investors’ increasing focus on how the companies in which they invest are addressing the risks associated with climate change.
With the release of these two reports, and a similar ExxonMobil report in February, investors now have significantly more information to analyze the extent to which U.S. oil and gas companies are positioned for the transition to a low-carbon economy.
Wespath will continue to join with global investor peers in conducting robust discussions with companies regarding the business impacts resulting from the global energy transition.
Published: March 9, 2018
* Wespath Investment Management is the investments division of Wespath Benefits and Investments, a general agency of The United Methodist Church.
Chevron Report: Climate Change Resilience, A Framework for Decision Making