As a result of these actions, shareholders, many of them members of the Interfaith Center on Corporate Responsibility, have agreed in the past two weeks to withdraw climate change shareholder resolutions filed with ChevronTexaco Corp., Anadarko Corp., Apache Corp., Unocal Corp and Tesoro Corp. The Marathon Oil Corp. has also agreed to boost its climate risk disclosure, which resulted in shareholders deciding not to file a climate change resolution with the company this year.

"Most of the oil and gas companies are taking climate change much more seriously than they were just a year ago," said Mindy Lubber, president of Ceres, an investor coalition that has helped coordinate the shareholder resolution filings with the oil and gas companies. "These disclosure commitments are only a beginning, but there's a much broader recognition from companies that climate change is a serious issue with serious financial consequences for investors if it isn't well managed."

Two global warming resolutions are still pending with the ExxonMobil Corp. and are expected to go to a vote at the company's annual meeting this spring. The resolutions request that: the board of directors review and publish how the company will meet greenhouse gas reduction targets in countries that have adopted the Kyoto Protocol; and provide research data from the company relevant to the company's stated position on the science of climate change. Climate change resolutions are also pending with XTO Energy Inc. and Vintage Petroleum.

Specifics on the company commitments and actions are as follows:

Anadarko Petroleum

Trillium Asset Management Corp. agreed to withdraw its resolution this month based on the following actions from Houston-based Anadarko:

"It has become clear to us in the past year that Anadarko is evaluating the risks and opportunities posed by climate change more seriously than ever," said Shelley Alpern, director of social research and advocacy at Trillium Asset Management Corp. "We're pleased to see Anadarko undertaking an inventory of its greenhouse gas emissions for the first time this year and will encourage the company to set reduction targets once the baseline has been established."

The withdrawn Anadarko resolution asked an independent committee of board members to assess how the company was responding to rising regulatory, competitive and public pressure to reduce greenhouse gas emissions. Last year's resolution at Anadarko received 31 percent support.

Apache Corp.

Boston Common Asset Management agreed to withdraw its resolution with Houston-based Apache Corp. after the company agreed to:

"We are encouraged that Apache has now committed to disclose key information, such as GHG emissions data, that we believe will enable shareholders to evaluate its progress on climate change versus its peers," said Steven Heim, director of research at Boston Common Asset Management. "We will continue to press Apache in the coming years for a rigorous response to the threats that climate change poses to its long term business and shareholder value. "

The withdrawn resolution asked an independent committee of board members to assess how Apache was responding to rising regulatory, competitive and public pressure to reduce greenhouse gas emissions

ChevronTexaco

Investors cited the following commitments and activities underway at San Ramon, Calif.-based ChevronTexaco in withdrawing their resolution:

"ChevronTexaco has come a long way in acknowledging the threat global warming poses for businesses and the steps needed to better position the company in the years ahead," said Sister Patricia Daly, OP, executive director of the Tri-State Coalition for Responsible Investment, a coalition of investors with the Interfaith Center on Corporate Responsibility, that withdrew its shareholder resolution last week. "While there's room for improvement, these commitments move the company in the right direction. We will continue to work with the company to build more momentum on renewables and other business strategies to address global warming."

The withdrawn ChevronTexaco resolution requested that the board prepare a report explaining how the company was responding to rising regulatory, competitive and public pressure worldwide to significantly boost renewable energy sources.

Tesoro Corp.

The United Methodist Church's General Board of Pension and Health Benefits agreed to withdraw its resolution with the San Antonio, Texas-based Tesoro Corp., one of the nation's largest independent refiners, after the company agreed to:

"The General Board is encouraged that the Tesoro Corporation is responding to climate change and is assuming its fiduciary responsibility to assess climate risk by measuring, monitoring and publicly reporting greenhouse gas emissions from its refiner operations," said Vidette Bullock Mixon, director of corporate relations at the General Board of Pension and Health Benefits. "As a concerned investor, the General Board challenges Tesoro to expeditiously establish greenhouse gas emission reduction objectives."

Marathon Oil

After winning 27 percent voter support for a resolution last year, the United Methodist Church's General Board of Pension and Health Benefits (GBOP) decided not to file a resolution for this year's annual meeting after Houston-based Marathon agreed to:

Unocal

Christian Brothers Investment Services agreed to withdraw its resolution with Unocal as a result of the following actions by the company to address GHG emissions:

Contacts:

Patricia Daly, Tri-State Coalition for Responsible Investment, 973-670-9674
Steven Heim, Boston Common Asset Management, 802-223-4627