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Exxon Mobil Corp. shareholders have asked the energy giant to publicly disclose how the fight against climate change could affect the company's bottom line.

It's a victory for environmental activists, who have been urging the oil company to consider the economic impact the Paris accord would have if it is fully implemented. The global agreement calls for more investment in renewable energy and for deep cuts in the greenhouse gas emissions that result from burning fossil fuels.


The nonbinding proposal was passed at the company's general meeting in Dallas on Wednesday, and now goes before Exxon Mobil's board. Chief executive Darren Woods said the board members would factor in the evidently strong support from shareholders, 

.

The initiative was supported by more than 62 percent of shareholders who voted — a big leap from last year, when there was 38 percent support for a similar proposal, 

, a vote that resounding indicates that major Wall Street investors are following the lead of environmental activists on this issue.


The yearly reports "would include details on how the company would survive in the event that carbon-reducing policies lead to lower oil demand," Travis Bubenik of Houston Public Media reports. "Exxon Mobil supports the Paris deal — but opposed the shareholder effort, saying the company is tackling climate change in other ways."

So how exactly is it a victory for environmentalists if Exxon Mobil is tallying up the economic impact of the Paris accord?

The newspaper notes that Irving, Texas-based Exxon Mobil is the world's largest publicly traded energy company.

The vote comes as President Trump is expected to announce his decision on whether to withdraw from the Paris climate agreement.

, citing an anonymous source, suggested that major financial firm BlackRock, and possibly Vanguard and State Street, supported the initiative, which was opposed by Exxon Mobil management.
Within the past two years, evidence has emerged that oil giant was 

aware of the threat posed by climate change

, directly caused by the use of fossil fuels, for decades before the company publicly acknowledged it.
Exxon Mobil provides financial support to NPR.  Copyright 2019 NPR. To see more, visit https://www.npr.org.

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In a victory for environmental activists, investors have passed a non-binding proposal calling for Exxon Mobil to publicly examine how efforts to cut greenhouse gases would affect its bottom line.

Shareholders push Exxon to disclose business impact of fighting climate change

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