An investor-led push for major oil companies to set climate goals in line with the Paris agreement has won support from a key proxy adviser for the first time, setting up a showdown at upcoming shareholder meetings.
Institutional Shareholder Services urged investors in Occidental Petroleum Corp. and refiner Valero Energy Corp. to back proposals to align the companies’ targets for cutting greenhouse gas emissions — including those of their customers — with the Paris accord, according to investor reports seen by Bloomberg.
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