Occidental Investors Overwhelmingly Reject Climate Proposal (1)

Occidental Petroleum Corp. shareholders rejected an environmental group’s proposal for the oil explorer to set more rigorous targets for greenhouse-gas emissions.

Shareholders voted 83% against the proposal during its annual meeting on Friday, according to preliminary results issued by the company.

The vote was a blow to environmental activists that have mounted a more aggressive campaign to pressure major oil producers to lay out plans to combat climate change.

Dutch investor group Follow This proposed that Occidental set short-, medium- and long-term targets to reduce carbon emissions, including those of its customers, in line with the Paris Agreement. ...