Premarket stocks: Big Oil’s day of reckoning on the climate is here
CNNA version of this story first appeared in CNN Business’ Before the Bell newsletter. “We’ve finally reached the point where climate inaction can cost a board member their job,” Andrew Logan, senior director of oil and gas at Ceres, a sustainability nonprofit, recently tweeted. Citing Exxon’s “questionable strategy” for the future and “diminishing returns,” Glass Lewis, another top advisory firm, urged shareholders to back two of the four candidates. “The IEA is what governments and companies all look to when they’re developing their strategies, so to say that new investment in oil and gas needs to stop really turns the page for this industry.” Taken together, these moves are a stark sign of how quickly public attitudes are changing — and could generate concrete results. “Amazon takes pride in the fact that we offer low prices across the broadest selection, and like any store we reserve the right not to highlight offers to customers that are not priced competitively.” Big picture: Court cases against Big Tech companies could weigh on the sector, even if they’re expected to drag on for years.
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