ALBANY, N.Y. — New York’s comptroller and other investors have asked ExxonMobil to advise them about the resilience of the oil company’s business model following the recent Paris climate agreement by nearly 200 countries to slow global warming.
Comptroller Thomas DiNapoli, trustee of New York’s $184.5 billion pension fund for public workers, is joining with the Church of England’s investment fund and others in its shareholder proposal.
They want ExxonMobil to publish an assessment of how its portfolio would be affected by a two-degree target limit on warming through 2040 and beyond, including an analysis of its oil and gas reserves.
The company says Tuesday its response will be in an upcoming proxy statement, adding the cost of carbon has been part of its business planning since 2007 to enable analysis of investment opportunities.
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