A vote during the ExxonMobil 2024 shareholder meeting Wednesday will pit those who think an oil company should act according to the concerns of climate activists against those who think companies should act to produce the best investment returns for their shareholders.
It is the latest front in the growing fight between proponents and opponents of environmental, social and governance (ESG), as the movement struggles to maintain the clout to effect social change through investments.
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“These activists have hijacked the shareholder proposal process by buying shares with the express purpose of strong arming companies like ExxonMobil to adhere to their radical Net Zero agenda. In other words, they are trying to force a company to act against its own interests,” Derek Kreifles, CEO of the State Financial Officers Foundation ( SFOF ), said in a statement.
Fiduciary duties ExxonMobil filed a lawsuit in January against a group of activist investor groups […]
— Read More: justthenews.com
