{"id":1125028,"date":"2021-12-16T11:43:37","date_gmt":"2021-12-16T16:43:37","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1125028"},"modified":"2021-12-16T11:43:41","modified_gmt":"2021-12-16T16:43:41","slug":"elizabeth-warren-demands-federal-probe-into-oil-executives-salaries","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elizabeth-warren-demands-federal-probe-into-oil-executives-salaries\/","title":{"rendered":"Elizabeth Warren Demands Federal Probe Into Oil Executives\u2019 Salaries"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felizabeth-warren-demands-federal-probe-into-oil-executives-salaries%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1125028&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Democratic Massachusetts Sen. Elizabeth Warren asked the nation\u2019s top financial regulator Wednesday to open an investigation into whether several oil corporations misled the public about executives\u2019 compensation.<\/p>\n<p>The Securities and Exchange Commission (SEC) should probe how three major oil companies tied easily-manipulated climate standards to executive pay, the Massachusetts Democrat <a href=\"https:\/\/www.warren.senate.gov\/oversight\/letters\/warren-calls-on-sec-to-investigate-whether-giant-oil-firms-are-misleading-investors-and-the-public-on-executive-pay\" target=\"_blank\" rel=\"noopener noreferrer\">wrote<\/a> to the agency\u2019s Chairman Gary Gensler in a letter. The companies \u2014 Chevron, Marathon Petroleum and Occidental Petroleum \u2014 allegedly gave hefty bonuses to their executives while falling short of environmental standards they promised investors they would meet, she said.<\/p>\n<p>\u201cThese potentially deceptive environmental, social, and governance (ESG) metrics pose a serious problem: they have the potential to mislead investors and the public on the terms and conditions under which executive bonuses are paid to top company officials,\u201d Warren <a href=\"https:\/\/www.warren.senate.gov\/imo\/media\/doc\/2021.12.14%20Letter%20to%20SEC%20re%20climate-change%20metrics%20in%20executive%20compensation.pdf\">wrote<\/a> to Gensler. \u201cI am requesting that the SEC investigate this matter.\u201d <strong><a href=\"https:\/\/dailycaller.com\/2021\/03\/19\/republican-senate-leaders-joe-biden-administration-social-justice-american-workers\/\">(RELATED: GOP Senate Leaders Criticize Biden Administration For Prioritizing Social Justice Ahead Of American Workers)<\/a><\/strong><\/p>\n<p>\u201cI am a strong supporter of providing investors and the public with climate-related disclosures and using the SEC as a valuable tool to increase climate accountability,\u201d Warren said. \u201cThe SEC\u2019s increased focus on ESG-related misconduct is a positive development, but the SEC must act to ensure that easily manipulated ESG metrics for executive compensation do not undermine investor protection.\u201d<\/p>\n<div id=\"attachment_7338550\" class=\"wp-caption alignnone\" readability=\"34\">\n<p id=\"caption-attachment-7338550\" class=\"wp-caption-text\">A Chevron petroleum storage tank is seen at Port Everglades in Fort Lauderdale, Florida. (Joe Raedle\/Getty Images)<\/p>\n<\/div>\n<p><a href=\"https:\/\/dailycaller.com\/2021\/12\/14\/please-dont-call-manger-elon-musk-tweet-karen-democrat-elizabeth-warren-tax-increase-savage-comeback\/\">Warren<\/a> cited a report&nbsp;<a href=\"https:\/\/www.washingtonpost.com\/business\/interactive\/2021\/fossil-fuel-climate-bonus\/\">published<\/a> in October by The Washington Post that found the companies continued to report high environmental standards and give large bonuses to CEOs even as they were responsible for increased emissions and oil spills. In 2018, Marathon Petroleum CEO Gary Heminger was awarded $272,251 for \u201cexcellence\u201d in environmental improvement despite the company\u2019s leak of 1,400 barrels of fuel in Indiana, according to the report.<\/p>\n<p>\u201cThese corporations are the primary examples of companies using ESG metrics to reward their top executives even though they appear to be misleading investors and the public by failing to meet strict environmental standards,\u201d Warren said in a release Wednesday.<\/p>\n<p>The Massachusetts senator noted that her legislation, the \u201cClimate Risk Disclosure Act of 2021,\u201d would require every publicly-traded company to release emissions data. <strong><a href=\"https:\/\/dailycaller.com\/2021\/12\/03\/democrats-oil-gas-industry-investigation-emissions-methane\/\">(RELATED: Democrats Launch Another Probe Into Fossil Fuel Industry Over Emissions Data)<\/a><\/strong><\/p>\n<p>Warren requested Gensler to respond to her letter by early January.<\/p>\n<p>Chevron, Marathon Petroleum and Occidental Petroleum didn\u2019t immediately respond to requests for comment.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democratic Massachusetts Sen. Elizabeth Warren asked the nation\u2019s top financial regulator Wednesday to open an investigation into whether several oil corporations misled the public about executives\u2019 compensation.The Securities and Exchange &#8230;<\/p>\n","protected":false},"author":181,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1125028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1125028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1125028"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1125028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1125028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1125028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1125028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}