- BlackRock (NYSE:BLK) and Vanguard are strongly considering a vote in favor of a shareholder proposal that would seek to pressure Exxon Mobil (NYSE:XOM) to conduct a climate “stress test” to measure how regulations to reduce greenhouse gases could impact the value of the company's oil assets, WSJ reports.
- XOM has urged investors to vote against the resolution at its annual meeting on May 31.
- The asset managers could side with XOM if the company offers certain concessions, including making further disclosures or agreeing to allow its non-employee directors to meet with investors, according to the report; such concessions in the past have led BLK to side with companies and vote against proposals related to climate change disclosure.