Save to Read Later
CALGARY - Imperial Oil Ltd. investors have voted 86 per cent to defeat a shareholder resolution that it adopt a target to achieve net-zero carbon emissions by 2050.
Imperial Oil logo at the company's annual meeting in Calgary on April 28, 2017. THE CANADIAN PRESS/Jeff McIntosh
CALGARY - Imperial Oil Ltd. investors have voted 86 per cent to defeat a shareholder resolution that it adopt a target to achieve net-zero carbon emissions by 2050.
But the vote held during the Calgary-based company's virtual annual meeting exposes a rift between its parent, U.S. giant Exxon Mobil Corp., which owns 69.6 per cent of Imperial, and its other shareholders, as the company noted 58 per cent of the shares not held by Exxon were voted in favour of the resolution.