Recent SEC Decision Could Spark Investment In Big Oil

Earlier this month, the Securities and Exchange Commission denied requests from ConocoPhillips and Occidental Petroleum to throw out shareholder motions for voting on detailed emission-reduction plans. The move sets a precedent in the industry, which might draw more activist investors with an ESG bend to the unloved industry. “This is a breakthrough in the fight against climate change. Finally, shareholders can vote about the elephant in the room: product emissions. All our experience in Europe has shown that only shareholders’ votes…