11:12 AM EDT, 05/06/2024 (MT Newswires) -- (Updates with additional information.)

American Express ( AXP ) shareholders on Monday voted against a proposal that would have required the company to produce a report outlining how its net-zero carbon footprint objectives align with its lobbying efforts.

The company has pledged to achieve a net-zero carbon emissions target by 2035.

The proponent of the resolution argued that Amex does not disclose "sufficient information" about "how the company ensures its direct and indirect lobbying aligns with its climate-related commitments," and actions it is taking to address any misalignments, shareholder activist Myra Young said in the proxy statement.

In its proxy statement, American Express ( AXP ) maintained that such a report would be "duplicative and unnecessary" because the company already discloses its objectives and goals to advance climate change solutions.

The company said it already offers "robust and transparent disclosure" regarding its lobbying and political activity. This information is accessible through various channels, including environmental, social and governance report, federal lobbying filings and semiannual political contributions reports, available publicly.

Shares of American Express ( AXP ) were up 1% in recent Monday trading.

Price: 232.11, Change: +1.34, Percent Change: +0.58