Chevron shareholders to vote on emission reduction plans

London (Quantum Commodity Intelligence) - Energy major Chevron's shareholders will be permitted to vote on proposals setting out emission reduction targets, after the US Securities and Exchange Commission rejected the company's attempt to block votes regarding its green plans, according to media reports Thursday.

The US energy major has committed to reducing its carbon emissions in the short term, but unlike its European counterparts has not yet made public plans for a longer-term journey to net-zero greenhouse gas emissions.

The Follow This green activist organisation put forward a proposal to reduce significantly scope 3 emissions, which includes indirect emissions resulting from the consumption and use of the company's products.

Another proposal would compel Chevron to report on the impact of market-wide net-zero carbon emissions in 2050 on the company's finances and operations.

Last year, shareholders voted in favour that the company issue a report covering its climate change-related lobbying activities, which was published in December.