Shareholders in ExxonMobil have backed a resolution calling for investors to have greater powers to nominate board members, as the oil company faces growing pressure over its position on climate change. At its annual meeting in Dallas on Wednesday, investors in Exxon controlling 61.9 per cent of the shares voted were in favour of “proxy access” to nominate directors, rejecting the recommendation from the company’s board to vote against the proposal. It was the first defeat for Exxon’s board in a shareholder vote since 2006. A similar resolution very nearly won a majority at last year’s meeting, gaining support from 49.4 per cent of the votes cast. Under proxy access, a group of shareholders that has jointly held 3 per cent or more of the shares for more than three years can nominate up to a quarter of the board’s directors each year. The resolution was proposed by New York City’s pension funds, which argued that it would “make directors more accountable and enhance shareholder value”. Scott Stringer, the New York City comptroller or chief financial officer, described the vote as a “watershed moment for ExxonMobil’s shareowners”. He added that if Exxon was to address long-term risks such as climate change, “its board of directors must be diverse, independent, and accountable”.