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ConocoPhillips Rejects Customer Emissions Goal Despite Vote

  • Says move would push output to ‘less accountable’ companies
  • Investors voted for Scope 3 target at 2021 annual meeting
Signage is displayed at a Conoco gas station in Peoria, Illinois.

Signage is displayed at a Conoco gas station in Peoria, Illinois.

Photographer: Daniel Acker/Bloomberg
Updated on

ConocoPhillips doesn’t expect to set a target to cut its customers’ emissions, even though investors voted for one at the oil producer’s annual meeting last year. 

The Houston-based company has “engaged very extensively” with shareholders about so-called Scope 3 emissions since the meeting, executive vice president Dominic Macklon said Wednesday on a call with analysts. “Our stockholders, with very few exceptions, did not express an expectation for ConocoPhillips” to set a Scope 3 goal, given that the company is an oil driller that doesn’t own refineries or gas stations.