CLIMATE CHANGE: “BlackRock Inc said on Friday [5-12-17] that it voted in favor of a successful shareholder proposal calling for more climate change reporting by Occidental Petroleum Corp (OXY.N), in the first sign the world’s largest asset manager was backing up its tough new talk on environmental matters.
Backers of the resolution called its passage a major victory, the first time such a measure succeeded at a major U.S. oil and gas company. Proponents said they were pleased by BlackRock’s support, which they had sought.
‘Today’s historic vote puts the oil and gas industry on notice – the climate is changing and so are investor expectations of how companies should respond,’ said Laura Campos, a director at the Nathan Cummings Foundation, one of the resolution’s proponents.”
-Ross Kerber, “BlackRock switch helps pass ‘historic’ climate measure at Occidental,” Reuters, May 12, 2017 5:57pm