Exxon supports responsible methane regulation

December 29, 2018 |

In California, ExxonMobil submitted a formal comment supporting the need for strong methane policy in response to the U.S. Environmental Protection Agency’s (EPA) plan to roll back existing methane regulations.

This action came two weeks after the company received a letter sent on behalf of 61 investors representing $1.9 trillion in assets under management. The letter requested that ExxonMobil follow through on its commitment to advocate for sound methane policy. Investors have also expressed opposition to the proposed rollbacks by directly commenting to the EPA.

Shareholder groups like As You Sow have engaged Exxon on methane for years, including the filing of a 2017 shareholder proposal that received a strong 39% percent vote. Investors have been pleased by notable progress made by Exxon on this issue — the company has taken important actions such as setting a methane reduction target and joining voluntary initiatives such as the methane Guiding Principles and the Oil and Gas Climate Initiative, which recently set a group-wide methane target.

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Category: Policy

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