"ExxonMobil Agrees to Report Carbon Stranded Asset Risk"

"NEW YORK -- In response to a shareholder resolution, ExxonMobil, the largest U.S. energy company, for the first time has agreed to publish a Carbon Asset Risk report on the company website. The report will show investors how ExxonMobil plans for a future where market forces and climate regulations will make some of its oil and gas reserves unburnable.

The shareholders, led by the wealth management firm Arjuna Capital, which encourages sustainability, and the nonprofit advocacy group As You Sow, on Thursday agreed to withdraw their resolution if ExxonMobil would provide information to shareholders on the risks that its stranded assets pose to the company’s business model.

The proposal reflects increasing investor concern about the issue of stranded assets. A stranded asset is one that has become obsolete or non-performing, but must be recorded on the balance sheet as a loss of profit."

Environment News Service had the story March 24, 2014.

Source: ENS, 03/25/2014