Norway's wealth fund backs shareholder proposals at Exxon, Chevron

May 3, 2016 6:23 AM

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OSLO May 3 Norway's $872 billion sovereign wealth fund gave its backing on Tuesday to three shareholder proposals aimed to change corporate governance and climate policies at U.S. oil major Exxon Mobil.

"Norges Bank Investment Management will vote in favour of three shareholder proposals related to climate change policies, requirement for independent chairperson and inclusion of proxy access into the company bylaw," the fund said.

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