Exxon has given in to shareholders who have demanded that the company increase its transparency with regards to the effect of climate change policies on its business. In a regulatory filing yesterday, the world’s top integrated oil company said it will “enhance its disclosures,” including, “energy demand sensitivities, implications of two degree Celsius scenarios, and positioning for a lower-carbon future.”

The enhancements follow a request from a shareholder, the New York State Common Retirement Fund, which insisted at the company’s annual shareholders’ meeting that Exxon begin acknowledging the effects that climate change policies would have on its operations.

The fund received the support of shareholders owning about 62 percent of the company, with the demands including annual reports on the impact of technological change and climate change policies on the business. The principal argument of the shareholders was that they needed to be able to assess the long-term resilience of Exxon in the face of an ever more intensive drive to curb the effects of climate change and slow it down.

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