Chevron Corp (CVX)

[eFinanceMarkets]

Chevron investors pull bid for climate change proposal

Chevron (NYSE:CVX) shareholders withdraw a proposal calling on the company to report regularly on the risks it faces from policies to address climate change.

The decision shows how investors are making uneven progress in their efforts to encourage U.S. energy companies to discuss the issue in more detail; just last Friday, a majority of votes at Occidental Petroleum's (NYSE:OXY) shareholder meeting backed a similar call for the company to produce a regular report on climate risk.

Wespath Investment Management and the U.K.'s Hermes Investment Management had filed a proposal for CVX's May 31 annual meeting, calling for the company to publish an annual assessment of the potential impacts of climate policies on its operations.