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I sent a letter to Chevron’s board of directors Tuesday questioning its recent decisions to embrace policies that my firm, Strive Asset Management, believes are harmful to its business interests.
In 2021 a Dutch climate nonprofit called Follow This submitted a shareholder resolution demanding that Chevron reduce “Scope 3 emissions.” The Environmental Protection Agency’s website defines Scope 3 emissions as those that are “the result of activities from assets not owned or controlled by the reporting organization, but that the organization indirectly impacts in its value chain,” including employee commuting, leased assets and downstream use of products by customers.
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