Reuters | A group of religious investors urged Exxon Mobil to drop a lawsuit against climate activists, saying in a letter to the energy company’s board seen by Reuters on Thursday that the action is a broad threat to shareholder rights.
“This unprecedented suit risks alienating shareholders, harming Exxon’s reputation, and undermining the Securities and Exchange Commission” (SEC) by sidestepping the usual regulatory path companies use to block resolutions, states the Feb. 7 letter from the Interfaith Center on Corporate Responsibility.
[…]Josh Zinner, CEO of the Interfaith Center, said Exxon is trying to silence investors rather than grapple with how to lower emissions as other companies are doing. “This is not some fringe idea, that’s why it (Exxon’s suit) is particularly troubling,” Zinner said.
