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Chevron shareholders challenge C-suite by backing climate proposal By Sergio Chapa and Caroline Hyde on 5/27/2021
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Chevron CEO Mike Wirth
(Bloomberg) Chevron shareholders voted for a proposal to reduce emissions from the companyâs customers, the latest sign that oil titans are coming under increasing pressure to address environmental concerns.
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According to a preliminary tally, 61% of investors backed the proposal at the companyâs annual investor meeting on Wednesday, rebuffing the companyâs board, which had urged shareholders to reject it. An item asking Chevron to report on how a significant reduction in fossil-fuel demand would affect its business and a request for a report on political lobbying were narrowly voted down.
by Bloomberg
|Thursday, May 27, 2021
Chevron shareholders voted for a proposal to reduce emissions from the company s customers.
(Bloomberg) Chevron Corp. shareholders voted for a proposal to reduce emissions from the company’s customers, the latest sign that oil titans are coming under increasing pressure to address environmental concerns.
According to a preliminary tally, 61% of investors backed the proposal at the company’s annual investor meeting on Wednesday, rebuffing the company’s board, which had urged shareholders to reject it. An item asking Chevron to report on how a significant reduction in fossil-fuel demand would affect its business and a request for a report on political lobbying were narrowly voted down.
Telus earnings miss on lower wireless network, service sales
Ilya Banares, Bloomberg News
Key Insights
- Canadaâs second-largest telecommunications provider by market value added 87,000 net new wireless phone subscribers. Average mobile phone revenue per user fell 3.4 per cent to $57.29.
- Roaming revenue declined as lockdown orders across the country kept customers at home. Wireless network revenue was down 1 per cent, and equipment and service sales fell 3.2 per cent.
- The Vancouver-based companyâs profitability dropped. Adjusted earnings were 22 Canadian cents per share, versus the average analyst estimate of 25 cents.
- âWe did have a few acquisitions, which helped on that revenue line, but weâve had extremely high-quality growth in both our wireline and wireless businesses,â Chief Financial Officer Doug French said in an interview Thursday with Bloomberg News. He added: âWe havenât assumed in our business plan that weâd have any rec