Stakeholders Are Demanding Exxon Include A Climate Change Resolution In Annual Shareholder Proxy

New York State's comptroller and 4 Exxon Mobil Corporation XOM's shareholders are pressing the U.S. Securities and Exchange Commission to force the company to include a climate change resolution in its annual shareholder proxy, according to a report by Reuters.

New York State's Comptroller Thomas DiNapoli said in a regulatory filing that providing information related to climate change is crucial to making an informed investment decision, Reuters noted.

"As investors, we need to know how Exxon Mobil's bottom line will be impacted by the global effort to reduce greenhouse gas emissions and what the company plans to do about it," DiNapoli told Reuters.

Exxon is scheduled to send its proxy materials to investors in the coming months. The company already said in the past that climate change poses little risk to its reserves and will begin providing some information on its findings.

However, Reuters added that Exxon's past efforts to provide details of global warming has not been sufficient for key shareholders, including the New York State, the Church of England, and other shareholders who own more than $1 billion of the company's stock.

"We believe that our desire to see reporting on how Exxon Mobil's business would fare were warming to be restricted to 2 degrees Celsius is widely shared in the institutional investor community," Edward Mason, head of responsible investment for the Church of England's commissioners, said in a statement to Reuters.

Shares of Exxon lost 1.4 percent on Tuesday to close at $81.24.