shareholder proposal · 2022
Sisters of St. Francis of Philadelphia at Chevron
Commission and publish an independent racial equity audit of the company's policies and practices, given hazardous air pollution and health outcomes in the communities around its operations.
What happened
Result: Not approved, but close: 657,196,358 votes for (47.5 percent) and 727,194,005 against (52.5 percent), with 20,231,593 abstentions and 255,146,992 broker non-votes, as Proposal 9 at the May 25, 2022 annual meeting.
Chevron commissioned a racial equity audit from Paul Weiss, a firm that has frequently served as its legal advisor, and published a report on its employment practices and corporate philanthropy. In May 2023 the proponents said publicly that it failed their request: it did not address environmental racism, discriminatory political donations or community relations, the company did not consult the lead proponent or many co-filers before conducting it, and the stakeholders who informed it were not disclosed.
Who is involved
- Sisters of St. Francis of Philadelphia filer
- Investor Advocates for Social Justice and other ICCR-affiliated investors co-filer
- Chevron Corporation company
What this campaign is about
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