News Service May 29, 2003



Exxon Mobil Shareholders Vote Down 12 Resolutions

05/28/2003

By SUDEEP REDDY / The Dallas Morning News

Exxon Mobil Corp. shareholders voted down each of the 12 resolutions presented Wednesday at the company's annual meeting, but several proposals - related to the environment and employment policies - gained support over previous years.

The most heavily pushed was a new resolution that calls on the Irving-based oil company to prepare a more detailed report about how it plans to address financial risks from climate change. It received 22 percent of the 5.5 billion shares cast at the meeting.

Despite intensifying pressure from environmental groups and institutional shareholders, Exxon Mobil has maintained its position questioning the scientific claims around global warming and the viability of renewable energy technologies.

>A resolution calling for a report on renewable energy received 21 percent of the votes cast, up from 20.2 percent last year.

Another resolution to include sexual orientation in Exxon Mobil's anti-discrimination policies received 27.1 percent of the votes, up from 23.9 percent last year.

The three-hour meeting was held at the Morton H. Meyerson Symphony Center amid an escalated police presence and tight security after 36 Greenpeace protesters were arrested Tuesday after breaking into Exxon Mobil's Irving headquarters to protest the company's environmental stances.

A third of those arrested had posted bail by Wednesday afternoon, and the rest were awaiting arraignment, Irving police said.