With increasing severity of storms in the Gulf due to climate change, some investors have questioned whether energy companies should locate so close to the coast at all given the risky incidents.

Activist shareholder group As You Sow posed that question to shareholders of Phillips 66, Exxon Mobil and Chevron earlier this year, requesting more information about whether the companies take climate risks into account when deciding where to build a new plant.

“Are they building things that will withstand 500-year storms that occur every year?” asked Danielle Fugere, president and chief counsel of As You Sow. “Does it make sense to build them in the first place? Does it make sense to put it in a place with high flooding in the pathway of harm? Investors need to know how companies come out on those questions.” Read Full Article - Houston Chronicle, August 28, 2020