Biggest U.S. Oil Explorers Face Investor Votes on Emission Cuts

Exxon Mobil Corp. and Chevron Corp. investors will vote on shareholder demands to curb pollution amid growing pressure on the oil industry to clean up its environmental record.

Exxon holders will consider a proposal from Dutch environmental group Follow This that calls on the oil giant to reduce emissions and sales of oil and natural gas in accordance with the Paris Agreement. A separate measure about low-carbon business planning fielded Arjuna Capital also will be on the ballot for the May 26 meeting.

Exxon’s board is advising investors to reject all seven shareholder proposals, according to a proxy statement ...