UPDATE 1-Exxon investors put exec pay issue above climate

(Updates with vote on board nominees, paragraph 10; more debate, last 7 paragraphs)

By Michael Erman and Ed Stoddard

DALLAS, May 30 (Reuters) - Exxon Mobil Corp. (XOM.N: Quote, Profile, Research, Stock Buzz) spent much of its annual meeting on Wednesday defending its environmental policy, but shareholders of the world's largest company were more concerned with its executive pay and governance practices.

None of the 15 shareholder proposals that were up for approval at the annual meeting received 50 percent of the shareholder vote, but four dealing with pay and governance received at least 40 percent.

All four measures would increase the accountability of Exxon's management and board for their policies and performance.

About 47.8 percent of the voting shareholders backed a measure that would give holders of 10 percent of Exxon's outstanding common shares the right to call special shareholder meetings and 47.2 percent favored a proposal to allow the company to recoup incentive bonuses it determined not to be justified.

Proposals to give shareholders an advisory vote on executive pay and to split the chief executive and chairman positions got 41.2 percent and 40 percent of the vote, respectively.

But climate change was the central topic of discussion at the meeting and one environmental proposal -- that the company adopt goals for greenhouse gas reductions from its products and operations -- received 31 percent of the shareholder vote.

Exxon Chief Executive Rex Tillerson disputed claims by investor activists and environmentalists that the company is working to mislead the public about the causes of climate change.