EnergyWatch

World's biggest publicly traded company loses shareholder battle over climate

ExxonMobil's management has been defeated by a majority of the company's shareholders, who want the US oil giant to make special climate calculations.

Photo: /ritzau/AP/Matt Brown/Arkiv

The day before it emerged the president Donald Trump was pulling the US out of the climate deal entered in Paris in 2015, management in one of the country's largest companies lost a climate battle to its shareholders.

A general meeting at the management of ExxonMobil in Dallas Wednesday was described by the Washington Post as a "shareholder rebellion," where several of the largest shareholders, including some of the world's largest asset managers, forced management in the company to make special climate calculations. This occurred via a resolution which was backed by 62.3 percent of shareholders, but was not backed by management.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

EU Commission still has no roadmap for price ceiling

Ahead of Thursday’s long awaited meeting between EU’s energy ministers, the EU Commission still has yet to rubber-stamp any proposed solutions to the energy crisis. According to a commissioner, preparations are still underway for the meeting – and gas prices are in focus, according to documents leaked Wednesday.

Further reading

Related articles

Latest News

See all jobs