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Chevron Human Rights Resolution Supported by Oblates June 18th, 2009

Using a proxy from the Missionary Oblates, Michael Eisenscher of U.S. Labor Against the War addressed the Annual General Meeting of the Chevron Corporation on May about the company’s efforts to profit from Iraqi oil. The company profited, in particular, from a widely-opposed oil law that would give foreign corporations like Chevron almost complete control of Iraq’s oil industry, to the detriment of the rights of ordinary Iraqis.

Members of the True Cost of Chevron coalition presented their alternative annual report directly to Chevron management and CEO David O’Reilly (who disparagingly responded during the meeting that it “deserves the trash can”). Edited and painstakingly researched by Antonia Juhasz, with help from a coalition of over a dozen groups, “The True Cost of Chevron” highlights the tragic human consequences that are the flip side of the record profits Chevron collected in 2008. It can be downloaded for free at http://truecostofchevron.com/report.html

Chevron is finding itself increasingly in the spotlight over the harmful consequences of its operations, and shareholders are deeply concerned, as evidenced by the 28% support yet again this year for the resolution calling for a clear human rights policy. 28% is considered extremely good performance for a shareholder resolution of this type. Investors representing billions of dollars in Chevron stock have spoken up in support of greater social responsibility, and although the True Cost of Chevron’s coalition’s speakers inside the meeting were treated dismissively by CEO O’Reilly, Chevron is taking notice.

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Investors File Record Number of Global Warming Resolutions with U.S. Companies March 6th, 2008

14 Resolutions Already Get Results From Companies

Leading U.S. investors have filed a record 54 global warming shareholder resolutions in the 2008 proxy season – nearly double the number filed just two years ago. Resolutions were filed with U.S. companies that face far-reaching business impacts from climate change.

The investor groups are members of ICCR (Interfaith Center for Corporate Responsibility) or CERES (the largest coalition of investors, environmental and public interest organizations in North America). Joining other ICCR members, the Missionary Oblates of Mary Immaculate co-filed with three companies on global warming issues: Chevron, Exxon-Mobil and El Paso Corporation.

Download PDF of 3 page report.

End to U.S. Oil Aid Supported by Oblate JPIC Office June 5th, 2007

The Oblate JPIC Office has joined faith and environmental groups in urging Members of the US House of Representatives to cosponsor H.R. 1886, the End Oil Aid Act. This bill, introduced by Rep. Hinchey (D-NY), would limit U.S.-funded international financial institutions and export development agencies from subsidizing the oil and gas industry’s overseas operations.

Each year, financial institutions including the World Bank, the Overseas Private Investment Corporation (OPIC) and the Export-Import Bank (Ex-Im) provide billions of dollars to the oil sector. This oil aid subsidizes an already-profitable industry, including companies such as ExxonMobil, Halliburton, and Chevron, which have recently reported record profits.

(Download PDF of the Letter)

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