Stanford University alumni press ExxonMobilMay 18, 2007 at 7:58 am | Posted in California, Climate action, Climate change, ExxonMobil, My photo, Stanford, Stanford University | Leave a comment
This beautiful mosaic of the angel of HOPE on Stanford Memorial Church speaks volumes.
Alumni Succeed in Push for Stanford to Vote Proxies After Exxon Exploits Support for University’s GCEP as ‘Fig Leaf’ to Hide Inaction on Short-Term Climate Steps
PALO ALTO, Calif., May 17 /PRNewswire-USNewswire/ — Concerned Stanford University alumni have succeeded in getting the Stanford Board of Trustee’s Advisory Panel on Investment Responsibility (APIR) to support a shareholder resolution pressuring Exxon Mobil to take immediate steps to reduce the giant oil company’s contributions to global warming. The move by Stanford is notable since Exxon Mobil routinely cites its support for the Stanford Global Climate and Energy Project (GCEP) as a major reason for why it does not need to take short-term action on global warming.
Kirk Miller (Stanford 1988), the organizer of the alumni campaign, said: “This strong step sends a clear message that Stanford will not allow itself to be used as a fig leaf by Exxon Mobil. The reality here is that Exxon Mobil is exploiting the Stanford name and Stanford’s reputation to block shareholder proposals asking ExxonMobil to reduce greenhouse gas emissions. We feel that Stanford’s GCEP — which includes other major funders such as Toyota and GE that are acting now on global warming — is a genuinely important project focused on substance in fundamental science and engineering. It is far too important to be cheapened by the stalling tactics of the Exxon Mobil legal and PR departments.”
As a result of the alumni campaign, Stanford’s APIR officials will cast the University’s Exxon Mobil proxies next week in favor of Resolution No. 15 (http://www.campaignexxonmobil.org/documents/2007OilandGas.doc), which will be considered at the Exxon Mobil annual meeting on May 30, 2007. The resolution from the Sisters of St. Dominic of Caldwell, New Jersey, and 41 co-filers asks the Exxon Mobil board of directors to set goals for reducing GHG emissions from both its operations and products.
Miller said: “Over the past months there has been a growing call among Stanford alumni to stop donating to the Stanford Fund because of the GCEP situation and ExxonMobil’s inaction on climate change. The most recent example of the anger of the Stanford community is that Steve Bing has recalled a $2.5 million donation to Stanford. It is potentially very damaging to Stanford University if more alumni and donors stop funding Stanford because of the association with ExxonMobil and how the oil company is exploiting that connection.”
and follow up with this one:
University Will Vote Its ExxonMobil Shares in Favor of Shareholder
Environmental Proposal SANTA MONICA, Calif., May 17 /PRNewswire-USNewswire/ — Bowing to concerns voiced about the university’s ties to oil giant ExxonMobil, Stanford University today said it will vote its Exxon shares against the company’s management and in favor of a shareholder environmental proposal.
The Foundation for Taxpayer and Consumer Rights (FTCR) said the decision was the only appropriate action following criticism of Exxon’s influence over the industry-funded Global Climate and Energy Program at Stanford. FTCR challenged the institution to continue to assert its academic integrity and independence by renegotiating the GCEP deal and taking control of the research agenda and any discoveries made.
The Foundation noted that ExxonMobil, which has run TV and newspaper ads touting its ties to Stanford to “greenwash” itself, cites GCEP as a reason for shareholders to vote against the environmental proposal.
According to Exxon’s proxy statement: