CONOCOPHILLIPS | Director elections at CONOCOPHILLIPS

Status
Voted
AGM date
Previous AGM date
Proposal number
1
Resolution details
Company ticker
COP
Submitted by
-
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Governance
ESG sub-theme
  • Shareholder rights
Type of vote
Director vote
Filer type
Management
Company sector
Energy
Company HQ country
United States
Whereas clause
The following directors have been nominated for election at the 2023 Annual meeting:

1. Ryan M.Lance
(i) Chair of Board of Directors

2. Jody Freeman
(i) Chair of Public Poliy and Sustainability Committtee
(ii) Member of Committee on Director's affairs
(iii) Member of Executive Committee

3. Gay Huey Evans
(i) Member of Committee on Director's Affairs
(ii) Member of Human Resources and Compensation Committe

4. Jeffrey A.Joerres
(i) Chair of Human Resources and Compensation Committee
(ii) Member of Committee on Director's affairs
(iii) Member of Executive Committee

5. Timothy Leach

6. William H .McRaven
(i) Member of Audit and Finance Committee
(ii) Member of Public Policy and Sustainabiliy Committee

7. Sharmila Mulligan
(i) Member of Audit and Finance Committee
(ii) Member of Human Resources and Compensation Committe

8. Eric D.Mullins
(i) Member of Audit and Finance Committee
(ii) Member of Public Policy and Sustainability Committee

9. Arjun N. Murti
(i) Chair of Audit and Finance Committee
(ii) Member of Human Resources and Compensation Committee
(iii) Member of Executive Committee

10. Robert A. Niblock
(i) Chair of Committee on Director's Affairs
(ii) Member of Human Resources and Compensation Committee
(iii) Member of Executive Committee

11. David T. Seaton
(i) Member of Committee on Director's Affairs
(ii) Member of Public Policy and Sustainability Committee

12. R. A. Walker
(i) Member of Audit and Finance Committee
(ii) Member of Public Policy and Sustainability Committee

13. Dennis V.Arriola
(i) Member of Human Resources and Compensation Committee
(ii) Member of Audit and Finance committee
Supporting statement
Last year, shareholders voted 52.95% in favour of a proposal titled 'Reduce Ownership Threshold to call Special Meeting'. PRI research finds that as of 01 March 2023 there is no evidence that the company has been responsive to shareholder views on this matter.

The 2022 proxy season had one of the highest records for majority-supported environmental, social, and governance (ESG) shareholder proposals in recent years, according to PWC. But as the 2023 proxy season commences, companies are acting on – and implementing – less than two out of every five of those shareholder proposals, according to their proponents. In approximately a quarter of cases, the investor proponent believes the proposal will not be addressed at all.

Access the research here: www.unpri.org/active-ownership-20/are-corporate-boards-responding-to-successful-shareholder-esg-proposals/11160.article

How other organisations have declared their voting intentions

Organisation name Declared voting intentions Rationale
Rathbones Group Plc Against
MN Against ConocoPhillips does not include scope 3 greenhouse gas (GHG) emissions in its goal of reaching net zero by 2050, its future capital allocation plans and new production operations are
not aligned with the Paris Agreement, i.e. limiting global warming to 1.5 C. Moreover, the company has not responded to majority-supported shareholder resolutions calling on the company to adopt scope 3 emissions targets.

Therefore we cannot support the re-election of directors.

DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.

Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.

Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.