Chevron Corporation
Ticker: CVX
Meeting date: 26/05/2021
Meeting type: Annual
Proposal | Mgt rec | Vote | |
---|---|---|---|
Management proposals | |||
1a | Proposal Elect Director Wanda M. Austin | Mgt rec For | Vote For |
1b | Proposal Elect Director John B. Frank | Mgt rec For | Vote For |
1c | Proposal Elect Director Alice P. Gast | Mgt rec For | Vote For |
1d | Proposal Elect Director Enrique Hernandez, Jr. | Mgt rec For | Vote For |
1e | Proposal Elect Director Marillyn A. Hewson | Mgt rec For | Vote For |
1f | Proposal Elect Director Jon M. Huntsman, Jr. | Mgt rec For | Vote For |
1g | Proposal Elect Director Charles W. Moorman, IV | Mgt rec For | Vote For |
1h | Proposal Elect Director Dambisa F. Moyo | Mgt rec For | Vote For |
1i | Proposal Elect Director Debra Reed-Klages | Mgt rec For | Vote For |
1j | Proposal Elect Director Ronald D. Sugar | Mgt rec For | Vote For |
1k | Proposal Elect Director D. James Umpleby, III | Mgt rec For | Vote For |
1l | Proposal Elect Director Michael K. Wirth Vote rationale: The board should exercise objective judgement on corporate affairs and be able to make decisions independently of management. The roles of chairperson and CEO should not be held by the same individual. Where a company founder combines both roles, we may support this for a limited period, provided the board has put in place measures to mitigate any conflicts of interest. Global Voting Guidelines Separation of chairperson and CEO | Mgt rec For | Vote Against |
2 | Proposal Ratify PricewaterhouseCoopers LLP as Auditors | Mgt rec For | Vote For |
3 | Proposal Advisory Vote to Ratify Named Executive Officers' Compensation | Mgt rec For | Vote For |
Shareholder proposals | |||
4 | Proposal Reduce Scope 3 Emissions Vote rationale: The board should account for material sustainability risks facing the company, and the broader environmental and social consequences of its operations and products. Sustainability disclosures should be aligned with applicable global reporting standards and frameworks to support investors in their analysis of risks and opportunities. Where a company’s disclosure does not meet our needs as a financial investor, we will consider supporting a well-founded shareholder proposal calling for reasonable disclosure. We will not support a shareholder proposal that appears to impose a strategy or prescribe detailed methods, unrealistic timeframes or targets for implementation. Global Voting Guidelines Corporate sustainability reporting | Mgt rec Against | Vote For |
5 | Proposal Report on Impacts of Net Zero 2050 Scenario | Mgt rec Against | Vote Against |
6 | Proposal Amend Certificate of Incorporation to Become a Public Benefit Corporation | Mgt rec Against | Vote Against |
7 | Proposal Report on Lobbying Payments and Policy | Mgt rec Against | Vote Against |
8 | Proposal Require Independent Board Chair Vote rationale: The board should exercise objective judgement on corporate affairs and be able to make decisions independently of management. The roles of chairperson and CEO should not be held by the same individual. Where a company founder combines both roles, we may support this for a limited period, provided the board has put in place measures to mitigate any conflicts of interest. Global Voting Guidelines Separation of chairperson and CEO | Mgt rec Against | Vote For |
9 | Proposal Reduce Ownership Threshold for Shareholders to Call Special Meeting | Mgt rec Against | Vote Against |
Disclaimer This page contains certain information as to the voting intentions of Norges Bank in its role as manager of the Government Pension Fund Global. This disclosure is provided to promote transparency as to Norges Bank’s engagement with investee companies, and in view of its approach to responsible investing. Norges Bank’s voting intention is an internal decision and has not been agreed with any third party. Please note the following:
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