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Exxon Mobil's (XOM) CEO Rex Tillerson Hosts Annual Shareholder Meeting (Transcr... Page 12 of 25
Corporate lobbying exposes our company to risks that could affect the company's stated goals, objectives, and ultimately
shareholder value, and we rely on the information provided by our company to evaluate goals and objectives, and therefore,
have a strong interest in full disclosure of our company's lobbying to assess whether our - whether our company's lobbying is
consistent with its expressed goals and in the best interests of shareholders and long-term value. Therefore we encourage our
board to prepare a comprehensive disclosure related to direct, indirect and grassroots lobbying. Thank you.
Rex Tillerson - Chairman and Chief Executive Officer
Thank you. The board recommends a vote against this proposal as outlined on page 67 of the proxy statement. The last
shareholder proposal calls for Greenhouse Gas Emissions Goals and has shown on pages 67 and 68 of the proxy statement. I
understand that Mr. Patricia Daly will present the proposal. Mr. Pat.
Patricia Daly
Thank you Mr. Tillerson, good to see you this morning Mr. (indiscernible), thanks again for that meeting, the Crosby referenced
and continued dialogue. Good morning members of the Board of Directors, it's great to have you here and I appreciate these
couple of minutes.
I represent my congregation the Dominican Sisters of Caldwell, New Jersey, also the American Baptist churches and about 40
institutional and individual shareholders, longtime shareholders in Exxon Mobil, some of them also longtime shareholders in
Mobil. So I am here to move the resolution, we've been here for many years, about seven or eight years I think now asking our
company to give us the business plan, to set goal to reduce screen definition in both operations and in product. Mr. Tillerson, I
believe you started with Exxon in 1975 that is the year I entered the Dominican order, life has changed. That year ICCR
members, we interface center on corporate responsibility, had shareholder resolutions about South Africa at both Exxon and
Mobil.
We've been working with our company since 1996 on this issue, even longer with some other companies. Since then we have
an additional 1.6 billion people on this planet. In 1996, there were 370 plus million of carbon in the atmosphere. Today we
have well over 400 parts. Scientists tell us that 350 is the number to maintain a safe, loving environment. I think a lot of storms,
right. But it's no longer about the storms, it's about food system on the planet, it's about water, it's about issues, it's about
ocean life, it's about sea levels an incredible shift to this planet. Father Mike referenced the U.S. climate assessment report
mandated by Congress how desperate that report now comes.
Back in 1997, our resolution that year asked for a report on climate risk, environmental liabilities. We are so grateful that our
Board and our management has given us this report this spring. However, I am also concerned we took 17 years. So we have
to report we are working on it, we work together, but our company continues to rely on a bid that the nations of the world will
be nothing about climate change for the next 30 years.
I am working with the auto companies in the United States. They worked with the EPA to establish realistic new goal fuel
standards, but they need the oil and gas industry to deliver the fuel, the cleaner fuels in order to make this happen. Our
business plan impacts all businesses, not just in the United States, but around the world. It impacts people's lives around the
world.
^
I am seeing now that investors, major investors around the planet are now shifting money into the clean technology, the new
businesses that we need. I know some of your board members, Mr. Weldon we have worked together with JPMorgan Chase.
Mr. Reinemund is on that board. The financial sector we are witnessing a massive shift into new technologies. We need to
step up to the responsibility as the nations of the world next year prepare for a new climate treaty. Retirees today depend on
our business in the next 20 years, but employees today depends on the success of our business for the next 15 years and is
got to be making the right investment.
I have a cousin who is about to start an engineering degree. I haven't seen kids yet who are looking to go into the oil and gas
business. The creators, engineers ongoing to the alternatives, we have got to be moving more money into the alternatives.
Please give us the business plan to be able to pull that cost. Mr. Tillerson, thank you very much. Everybody, thanks so much
for your time and patience today.
Rex Tillerson - Chairman and Chief Executive Officer
App. 771
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