Reuters | A U.S. judge on Wednesday allowed a lawsuit filed by Exxon Mobil against two activist groups seeking to bar their climate resolution to go ahead against one of the groups.
[…]Exxon sued climate activist groups Arjuna Capital and Follow This in January and told the court it would not drop the matter after they agreed to withdraw their petition, citing “the likelihood” the pair could file similar resolutions in the future.
U.S. District Judge Mark Pittman on Wednesday ruled that Exxon could continue its case against Arjuna Capital, citing jurisdiction to hear the case over a U.S.-based firm. But he said it could not pursue its claim against Netherlands-based climate activist group Follow This, as it was outside the court’s jurisdiction.
The activist groups argued that Exxon’s legal strategy would allow the company to “haul its shareholders into any court in the United States.”
“This is an unwarranted and cynical attack on shareholder rights in the world’s leading capital market,” Follow This founder Mark Van Baal said.
[…]Exxon’s annual shareholder meeting will be held on May 29. Arjuna Capital and Follow This had asked Exxon to adopt so-called Scope 3 targets to reduce emissions produced by users of its products. Exxon is the only one of the five Western oil majors which does not have such targets.
