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SEC sides with Exxon by blocking major climate vote

New York (CNN Business)ExxonMobil has dodged a climate change shareholder vote — with some help from the SEC. The agency granted Exxon's request to block a shareholder resolution that would have urged the oil behemoth to adopt and disclose greenhouse gas emissions targets on its business and products in line with the Paris climate accord.The SEC ruled that the nonbinding proposal, which was backed by investors with $9.5 trillion in assets, would "micromanage" Exxon (XOM) by seeking to impose "specific methods for implementing complex policies" in place of managerial judgment. The decision deals a blow to momentum in the investment community to coax fossil fuel companies to come to terms with the realities of climate change. Exxon's Europe ...
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