From: Douglas Grandt answerthecall@mac.

com
Subject:#2 of sixteen questions you must ask oil & gas
Date:April 10, 2019 at 1:21 PM
To:John Crowther (Senate ENR-R) John_Crowther@energy.senate.gov, Brian Hughes (Senate ENR Ctee-R)
Brian_Hughes@energy.senate.gov, Melissa Enriquez (Senate ENR-R) Melissa_Enriquez@energy.senate.gov
Cc: Senator Bernie Sanders info@sanders.senate.gov, Katie Thomas (Sen.Sanders) katie_thomas@sanders.senate.gov

Dear Senator Murkowski,

.

As Chairman of the Senate Energy

and Natural Resources Committee
this is #2 of sixteen questions that
you must ask the oil & gas industry
Doug Grandt
Putney, VT

Global petroleum production and refining companies

clearly have no intention of winding down gracefully.
U.S. regulator rules out Exxon shareholder
vote on climate resolution
REUTERS / SUSTAINABLE BUSINESS / APRIL 2 2019 / 4:46 PM / Bit.ly/Reuters2Apr19

(Reuters) - Exxon Mobil Corp is not required to let its shareholders vote on setting
greenhouse gas targets, the U.S. Securities and Exchange Commission said on
Tuesday, agreeing with the companyʼs request to reject the proposal.

Exxon in late January asked the SEC for permission to bar a shareholder submission
calling on the company to set emissions targets beginning next year that “aligned with
the greenhouse gas reduction goals established by the Paris climate agreement.”

Exxon argued the resolution was misleading, substantially implemented and an

attempt to interfere with its management responsibilities.

“The proposal would micromanage the company by seeking to impose specific

methods for implementing complex policies in place of the ongoing judgments of
management,” SEC Special Counsel Courtney Haseley wrote.

An Exxon spokesman declined to comment on the decision, and pointed to the

companyʼs letter to the SEC for its rationale.

Church Commissioners for England and the New York State comptrollerʼs office, which
submitted the proposal and previously submitted other climate-change resolutions to
the company, said they are considering their next steps.

“The SECʼs ruling is a bump in the road, but as long-term investors determined to
protect the value of our portfolio, we are not going away. We will continue to press
Exxon, and others, on climate risk and consider all options available to us in our next
steps,” New York State Comptroller Thomas P. DiNapoli said in a statement.

The group could seek to modify and resubmit the proposal before the 2020 annual
meeting, appeal the SEC ruling, or call on shareholders to vote against Exxon directors.
The company has not disclosed a date for its annual general meeting, which is
typically held in late May.

Reporting by Gary McWilliams; Editing by Susan Thomas and David Gregorio

https://www.reuters.com/article/us-usa-exxon-mobil-climatechange/u-s-regulator-
rules-out-exxon-shareholder-vote-on-climate-resolution-idUSKCN1RE2E5