Skip to content

Cookies 🍪

This site uses cookies that need consent.

Our work in the oil & gas sector

The energy market is changing with or without oil and gas companies. Ceres works with investors, companies, and regulators on the strategies and policies that will spur the industry to match its ambition to the scale of this transition and the risks of getting left behind.

Our Progress

From record-breaking shareholder resolutions votes at ConocoPhillips and Phillips66 to milestone investor victories at ExxonMobil and Chevron, we work to drive meaningful changes within the oil and gas sector to accelerate the transition to a just and sustainable future. As a result of our advocacy, we are seeing real progress.

A record-breaking vote at Chevron

As part of Ceres’ work with investors to underscore strong shareholder support for corporate leadership in reducing methane emissions, 98% of Chevron’s investors voted during the 2022 proxy season in favor of a shareholder resolution calling on the company to report on the reliability of its methane emissions disclosures. The important vote was flagged by the Climate Action 100+ initiative.

Proxy season wins at ConocoPhillips and Phillips66

At the ConocoPhillips and Phillips66 2021 annual meetings, resolutions seeking emissions reduction targets, both filed by Follow This and supported by Ceres, obtained historic majority shareholder approval. Another key resolution was filed requesting that Phillips66 issue a report on whether its lobbying activities are consistent with the goals of the Paris Agreement. The lobbying resolution vote was among the many flagged by the Climate Action 100+ initiative.

Board of directors shake up at ExxonMobil

In a dramatic shake up in 2021, a majority of ExxonMobil shareholders voted to replace two of the oil major’s board of directors with an alternative slate of candidates experienced in clean energy and energy transitions. Ceres Investor Network members and signatories of the Climate Action 100+ initiative were among the shareholders who voted for the board of directors nominated by Engine No. 1.

Methane and GHG regulations

In 2021, Ceres organized 168 investors representing $6.23Tin assets under management to call on the U.S. EPA to issue comprehensive regulations to curb dangerous methane and greenhouse gas emissions — and more stringent enforcement mechanisms to back them up. Occidental, Devon, Shell and bp, all engaged by investors as focus companies of Climate Action 100+, also spoken out in favor of strong regulations.

In 2020, our work with investment firm Engine No. 1 and Enviromental Defense Fund (EDF) led to ConocoPhillips, Devon, Occidental, and Pioneer a joining the Oil and Gas Methane Partnership 2.0, an alliance working to ensure accurate detection, quantification, and reporting of methane emissions.

Explore our oil and gas reports

We produce cutting-edge research and reports to educate and encourage investors and companies in the oil and gas sector to achieve a low-carbon future.

Oil and gas area
Apr 12, 2024
Investor Guidance for Engaging on Oil and Gas Sector Public Policy
Learn more
Sep 13, 2023
Decarbonizing U.S. Gas Distribution: An Investor Guide
Learn more
natural gas pipe
May 23, 2023
Benchmarking Methane and Other GHG Emissions Of Oil and Natural Gas Production in the United States 2023
Learn more

Help us transform the oil and gas sector

Our work to accelerate the transition to a more just and sustainable economy depends on the generosity of our supporters. Your gift will help Ceres drive progress across every sector of the economy.

Methane flare

Latest updates

Read the latest news and insights from our work in the oil and gas sector.

Events and webinars

Methane flare
Nov 21, 2023
Climate Intelligence for Investments: Comparing Methane's Risk Factor in Coal vs. Natural Gas
Methane flare
Jun 1, 2023
Benchmarking Methane and other GHG Emissions
Aerial view of oil and gas plant
Aug 30, 2022
Benchmarking Methane and Other Greenhouse Gas Emissions of U.S. Oil and Gas Production

Never miss an alert

Sign up for the latest news and updates from Ceres.