Shareholder motions demand Imperial Oil transparency on water risk, lobbying
CALGARY — Imperial Oil Ltd. shareholders are seeking to force the company to be more transparent about its water-related risks from pollution and climate change, as well as its lobbying activities and expenditures.
A motion sponsored by Fonds de Solidarite des Travailleurs du Quebec, a $13.7-billion socially responsible investment firm, regarding water-related risks will be voted on at Imperial’s annual meeting on April 27.
OceanRock Investments Inc., a $1.5-billion fund associated with Desjardins Group, has sponsored the lobbying motion.
Imperial is recommending shareholders vote against both because it says it already provides enough transparency.