Bloomberg Law
March 9, 2018, 8:33 PM UTC

SEC Verdict on Climate Vote at Oil Driller Seen as ‘Out of Step’

Andrea Vittorio

* Investor asks SEC to rethink letting oil explorer prevent vote on climate proposal

* Such reconsideration requests are rare, usually not granted

A socially conscious investment firm managing $2.5 billion in assets is asking the Securities and Exchange Commission to rethink whether oil explorer EOG Resources Inc. can prevent shareholders from voting on setting a carbon-cutting goal.

Trillium Asset Management wants the commission to reconsider its decision to allow the company to bar the vote, it said in a March 7 letter seen by Bloomberg Law. The move is “out of step” with the recent groundswell of shareholder support ...

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