A resolution to
ban discrimination at ExxonMobil based on sexual
orientation failed at the oil giant's annual meeting
May 30 in Dallas. The proposal--which 37.7% of
shareholders approved, falling short of the
necessary majority--was presented by the New York
City Employees' Retirement System and the
city's Fire Department Pension Fund.
This is the
seventh resolution New York City Comptroller William C.
Thompson has filed to the ExxonMobil board
requesting the policy change on behalf of the two
funds. According to the statement, shareholder support
for the proposal has increased in each of the seven
years; it was supported by 34.6% of shareholders in
2006 and 29.4% in 2005.
"While it
is heartening that a number of shareholders agree that
ExxonMobil must take steps to provide equal protections for
all employees, it is extremely troubling and downright
unacceptable that ExxonMobil has strongly resisted the
call," Thompson said in a statement. "We
must remain steadfast in our efforts to bring about change
and urge ExxonMobil to establish equal rights in the
workplace."
The Unitarian
Church, one of the resolution's cosponsors, presented
the measure at the meeting in November 2006. The
Pension Fund and the Employees' Retirement System have
a combined $2 billion, or 25 million shares, invested
in the oil behemoth.
According to the
Human Rights Campaign, ExxonMobil has
been left behind in protecting their LGBT employees, as
industry competitors Amerada Hess, BP,
ChevronTexaco, ConocoPhillips, Shell, and Sunoco have
all drafted policies doing so. ExxonMobil is also the
only Fortune 50 company that has failed to write sexual
orientation protections into its primary
nondiscrimination policy. (The Advocate)