Norway’s $1.4tn wealth fund, the largest sovereign fund in the world, said on Friday it would back activist resolutions calling for US oil giants Chevron and ExxonMobil to cut their emissions.
The resolutions will be put to Chevron and Exxon shareholders during their respective annual general meetings (AGMs), which will be held on Wednesday. The proposals, initially brought by activist shareholder group Follow This, call on the companies to include their Scope 3 emissions in their environmental and climate plans, which currently only consider emissions from production activities.
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