A report from Exxon Mobil Corp. outlining its lobbying activities is giving investors insight into how one of the world’s largest oil and gas companies advocates on climate policies and other issues and sets a benchmark to measure disclosure on political spending by other companies, advocates say.
Exxon Mobil released the report on its 2020 lobbying efforts on climate in response to a shareholder resolution from the United Steelworkers trade union and the Dominican Sisters of Grand Rapids, a religious congregation in Michigan. The proposal garnered 55 percent of votes cast at the company’s annual meeting last year, thanks to support from BlackRock Inc. and The Vanguard Group Inc., two of the world’s largest fund managers.
The report aggregates the oil company’s lobbying information at the federal level and is consistent with documents filed regularly with the Senate’s official lobbying database, such as legislation the company focused on and what parts of the government were targeted by Exxon Mobil’s in-house and contracted lobbyists. It also gives some information on political spending across 10 state legislatures and the “Exxchange” initiative, the company’s online grassroots lobbying community.
