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Phillips 66 shareholders vote in favour of SHARE proposal on climate lobbying

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By Jennifer Story and Sarah Couturier-Tanoh

At its Annual General Meeting on May 12, 2021, shareholders of the Texas-based oil company Phillips 66 voted strongly in favour of a resolution to align its lobbying activity with the Paris Accord. This proposal was co-filed by SHARE, for the second year in a row, on behalf of the Fonds de Solidarite FTQ. Despite the company recommending against the proposal, the vote passed with a considerable show of support.

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Vote, measure, manage.

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Shareholder proposals are a means for investors to engage not only with corporate management, but with other shareholders, raising suggestions and concerns that are relevant to the long term success of the corporation, and subjecting them to a vote by shareholders to demonstrate their importance.

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