Shareholder Democracy
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shareholder proposal · 2022

Mercy Investment Services at Chevron Corporation

Have the board oversee a report analyzing the reliability of Chevron's methane emission disclosures: summarising the outcome of any efforts to measure methane emissions directly, saying whether there is likely to be a material difference between direct measurement and the company's published estimates, and assessing how far any difference would alter estimates of the company's Scope 1 emissions.

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What happened

Result: Approved at the May 25, 2022 annual meeting with 98.0 percent in favor: 1,361,323,529 for, 28,220,990 against, 15,077,437 abstentions and 255,146,992 broker non-votes. It was item 7 on the proxy card, and Chevron's board recommended a vote for it, which is why the margin is so wide.

Chevron published a methane report on October 25, 2022 setting out its approach to detecting, measuring and reducing methane intensity, and saying it is working toward integrating comprehensive direct measurement into its existing emission factor based inventories.

Shareholders win majority support for climate proposals at Exxon, Chevron, Grist, 2022-05

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