"Statement on the Occidental Shareholder Vote," 9 May 2016

…Occidental Petroleum announced the results of voting on a 2 degree stress testing resolution at its annual meeting…[T]he votes represented…investor support for climate risk reporting in the U.S…Proxy advisory firm ISS has also announced recommendations in favor of similar resolutions pending at ExxonMobil, Chevron, and Anadarko…As oil prices continue to show volatility and defaults rise, credit ratings agencies such as S&P are downgrading even heavyweights such as ExxonMobil…[C]ontinued advances in technologies such as batteries, electric vehicles, and grid modernization are creating opportunities for cleaner energy and heightening risks for fossil fuels…Now is the time for…boards and executives to chart a path…to a future where temperature rise is limited to well below 2 degrees Celsius…Investors around the world have pledged their support of portfolio resilience carbon asset risk resolutions at these companies, and if the votes at AES and Occidental Petroleum are any indication, this proxy season will mark a monumental shift on climate disclosure…