ExxonMobil Corp. shareholders won't be following the lead of Phillips 66 Co. shareholders. Only 37.4 percent of ExxonMobil shareholders voted in favor of a resolution backed by As You Sow calling for the company to study the impact of its virgin plastics production.
A week ago, just a little more than half of Phillips shareholders voted in favor of a similar measure.
ExxonMobil has set targets to increase its recycling capacity, but As You Sow, an environmental activist group, said that the company's virgin plastics production is eight times higher than its recycling target.
As You Sow also noted that although its measure did not win a majority, it still did see strong support.
"These high votes with Exxon and Phillips 66 send a loud, clear message to the industry to move swiftly to develop a blueprint for an expeditious transition away from virgin plastic and less production of throwaway plastics overall," Conrad MacKerron, senior vice president at As You Sow, said in a news release.
Results of another AYS-backed proposal, this time at Amazon, are expected next week.