Exxon: At least 2 board members lose seats in climate fight
3 years, 7 months ago

Exxon: At least 2 board members lose seats in climate fight

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Exxon Mobil’s shareholders have voted to replace at least two of the company's 12 board members with directors who are seen as better suited to fight climate change, bolster Exxon’s finances and guide it through a transition to cleaner energy. The investors who backed the alternative slate of board members had complained that compared with some other oil giants, Exxon has failed to commit itself sufficiently to cleaner energy, from wind, solar or other sources. Exxon argued that it was committed to addressing the climate crisis, with plans to add new board members, including one with expertise in climate change.

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History of this topic

Column: Exxon Mobil is suing its shareholders to silence them about global warming
7 months, 3 weeks ago

Column: Exxon Mobil is suing its shareholders to silence them about global warming

LA Times  

Exxon Mobil CEO Darren Woods, left, listens with other oil company executives as then-President Trump spoke in the White House in 2020. The proxy advisory firm Glass Lewis & Co., which helps institutional investors decide how to vote on shareholder proposals and board elections, has counseled a vote against Hooley, citing Exxon Mobil’s “unusual and aggressive tactics” in fighting activist …

Own up and pay up for heating planet, government’s climate adviser Lord Deben tells oil giant ExxonMobil
1 year, 11 months ago

Own up and pay up for heating planet, government’s climate adviser Lord Deben tells oil giant ExxonMobil

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Oil and gas giant ExxonMobil should “own up and pay up” for the role it …

Exxon Lobbyist Caught On Video Talking About Undermining Biden's Climate Push
3 years, 6 months ago

Exxon Lobbyist Caught On Video Talking About Undermining Biden's Climate Push

NPR  

Exxon Lobbyist Caught On Video Talking About Undermining Biden's Climate Push Enlarge this image toggle caption Richard Drew/AP Richard Drew/AP Indiscreet comments made by an Exxon Mobil lobbyist to undercover activists may figure prominently in upcoming congressional hearings about the role of oil companies in the battle against climate change. Video clips released by the Greenpeace investigation project Unearthed show …

Column: Oil firms and others face unprecedented pressure to come clean on climate change
3 years, 6 months ago

Column: Oil firms and others face unprecedented pressure to come clean on climate change

LA Times  

Chevron, one of the world’s leading oil companies, got a major wake-up call on climate change from its shareholders May 26. “Investors want to know how a company is preparing for a different world where there’s more regulatory change and more environmental change,” says Ann Lipton, a business law expert at Tulane University who has been tracking corporate responses to …

Climate Activists Get Renewed Victory After Third Member Elected To Exxon’s Board
3 years, 7 months ago

Climate Activists Get Renewed Victory After Third Member Elected To Exxon’s Board

Huff Post  

LOADING ERROR LOADING Climate activists won yet another victory against Exxon Mobil on Wednesday after a third member was elected to the oil giant’s board, raising the stakes for the company amid criticism it has done little to address the growing threat of climate change. Exxon said Alexander Karsner, a strategist who works at Google’s parent company, Alphabet, and who …

Challengers unseat third Exxon board member in climate fight
3 years, 7 months ago

Challengers unseat third Exxon board member in climate fight

Associated Press  

NEW YORK — Exxon Mobil shareholders have unseated a third board member in their bid to force the oil giant to deal more aggressively with climate change. The ouster of the three Exxon board members is another blow to fossil fuel companies facing growing pressure to re-focus their businesses in light of a dangerously warming world. 1, a hedge fund …

ExxonMobil: A third climate activist from Engine No. 1 is expected to be elected to the board
3 years, 7 months ago

ExxonMobil: A third climate activist from Engine No. 1 is expected to be elected to the board

CNN  

New York CNN Business — ExxonMobil said it expects a third activist shareholder will be elected to its board of directors, following a contentious vote. But Exxon acknowledged after its shareholder meeting last week that two of its board seats went to climate activist hedge fund Engine No. Upset with Exxon’s financial performance and its foot-dragging on climate, the hedge …

At least 2 Exxon board members lose seats in climate fight
3 years, 7 months ago

At least 2 Exxon board members lose seats in climate fight

Associated Press  

NEW YORK — Exxon Mobil’s shareholders have voted to replace at least two of the company’s 12 board members with directors who are seen as better suited to fight climate change, bolster Exxon’s finances and guide it through a transition to cleaner energy. Anne Simpson, a managing director at the California Public Employees’ Retirement System, known as CalPERS and one …

Activist investor ousts at least two Exxon directors in historic win for pro-climate campaign
3 years, 7 months ago

Activist investor ousts at least two Exxon directors in historic win for pro-climate campaign

CNN  

New York CNN Business — A hedge fund that’s criticized ExxonMobil’s climate strategy won enough shareholder support to oust at least two directors from the oil giant’s board, a major loss for the once-mighty company. Citing Exxon’s “questionable strategy” for the future and “diminishing returns,” Glass Lewis, another influential advisory firm, urged shareholders to back two of the four candidates. …

Column: Exxon Mobil’s showdown with the consequences of climate change starts now
3 years, 7 months ago

Column: Exxon Mobil’s showdown with the consequences of climate change starts now

LA Times  

For decades, Exxon Mobil has held a well-deserved reputation as one of the nation’s leading bulwarks against addressing climate change. ISS, which advised clients to support three of the four alternative board nominees, wrote in its advisory that the hedge fund had presented “convincing arguments” that Exxon Mobil hadn’t adequately positioned itself for a transition from fossil to renewable fuels …

Exxon aims to quell shareholder revolt by adding activists to board
3 years, 10 months ago

Exxon aims to quell shareholder revolt by adding activists to board

CNN  

New York CNN Business — ExxonMobil is adding two prominent activist investors to its board of directors, in a bid to halt the first credible threat to overthrow its board in modern history. The decision to add Jeff Ubben, co-founder of Inclusive Capital Partners, and former Comcast finance chief Michael Angelakis comes as Exxon faces extreme dissent from shareholders about …

Exxon Mobil prevails in lawsuit over climate regulations
5 years, 1 month ago

Exxon Mobil prevails in lawsuit over climate regulations

Associated Press  

NEW YORK — Exxon Mobil won Tuesday in a closely watched lawsuit over the costs of climate change, with a judge saying there was no proof the energy giant duped investors about the toll that regulations could take on its business. “But Exxon Mobil is in the business of producing energy, and this is a securities fraud case, not a …

Exxon denies that it misled investors on climate risks
5 years, 2 months ago

Exxon denies that it misled investors on climate risks

Associated Press  

NEW YORK — Climate change may be the defining risk for oil and gas companies in coming decades, and attorneys for New York state are saying Exxon Mobil misled investors about how it was handling that risk. The lawsuit, brought by New York State Attorney General Letitia James, says Exxon Mobil used two sets of books to account for how …

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