Energy & Science
Oil Refiner Valero to Disclose Climate Lobbying After Criticism
- Move comes after Mercy Investments proposed shareholder vote
- Energy companies under greater pressure on climate disclosure
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Valero Energy Corp., one of the largest U.S. oil refiners, is planning to publish details of its climate lobbying activities after an investor pressed the company for more disclosure.
Valero will release a report later this year, it said in an emailed statement Wednesday. The decision follows discussions with Mercy Investment Services Inc., which had filed a proposed shareholder resolution demanding to know how Valero’s lobbying aligns with global efforts to fight climate change. That resolution has now been withdrawn, Valero said.