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Controller Applauds Exxon and Chevron Shareholder Votes

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SACRAMENTO—State Controller Betty Yee, California’s chief fiscal officer and board member of CalPERS and CalSTRS, released the following statement regarding ExxonMobil and Chevron shareholder votes at the companies’ annual meetings today.

“I applaud the ExxonMobil shareholders for taking a proactive step forward on proxy access. Proxy access will give shareholders an integral voice in electing board members, opening the door for climate change expertise. The votes on the ExxonMobil and Chevron climate change risk reporting resolutions clearly show that shareholders want the ability to incorporate the challenges and risks imposed by climate change in their investment decisions. I am pleased that CalPERS and CalSTRS have continued to play an integral leadership role in helping reach the ambitious COP21 goal through prudent stewardship of their investment interests.”

As the chief fiscal officer of California, Controller Yee is responsible for accountability and disbursement of the state’s financial resources. The Controller also safeguards many types of property until claimed by the rightful owners, and has independent auditing authority over government agencies that spend state funds. She is a member of numerous financing authorities, and fiscal and financial oversight entities including the Franchise Tax Board. She also serves on the boards for the nation's two largest public pension funds. Elected in 2014, Controller Yee is the tenth woman elected to a statewide office in California’s history. Follow the Controller on Twitter at @CAController and on Facebook at California State Controller’s Office.