Financial Times | ExxonMobil easily rebuffed an attempted shareholder revolt against its board of directors sparked by the supermajor’s decision to sue two climate-focused investors.
[…]Wall Street had been closely monitoring the outcome of the meeting after a number of large shareholders pledged to lodge protest votes. The backlash followed Exxon’s decision to sue US investment adviser Arjuna Capital and Dutch shareholder group Follow This, after they introduced a resolution demanding the company do more to cut greenhouse gas emissions.
[…]Mark van Baal, founder of Follow This, expressed disappointment in the shareholder decision. “Most investors missed the opportunity to voice their concerns over Exxon’s lawsuit against shareholders and attack of shareholder rights,” said van Baal.
[…]Reclaim Finance, a non-profit, slammed the vote from Exxon’s shareholders, accusing investors of supporting “climate chaos”. “Through these votes, investors have also supported ExxonMobil’s decision to muzzle climate-conscious shareholders by taking them to court, in defiance of shareholder dialogue and climate science,” said Agathe Masson, Reclaim Finance’s campaigner, in a statement.
Read the full story in the Financial Times
