Institutional Shareholder Services (ISS) has reportedly urged investors in Occidental Petroleum and refiner Valero Energy to back shareholder proposals to align their targets for cutting greenhouse gas emissions with the Paris Agreement.

It marks the first time that an investor-led push for major oil companies to set climate goals in line with the Paris Agreement has won support from a key proxy advisory firm, according to Bloomberg News.

Insightia was unable to confirm the report at time of publication.

ISS is also likely to issue the same recommendation for eight other oil companies facing similar votes, including Exxon Mobil and Chevron according to the news service.