(Reuters) – The U.S. Securities and Exchange Commission has directed ConocoPhillips and Occidental Petroleum Corp to hold shareholder votes on far-reaching new emissions targets, the Financial Times reported on Saturday.
The SEC denied requests from both oil companies that they be allowed to throw out shareholder motions that would force them to lay out detailed plans for cutting their so-called “Scope 3” emissions, those from the burning of their products by customers, the FT report added.
(Reporting by Aakriti Bhalla in Bengaluru)
