It's all coming down, folks.
Financial firms lead shareholder rebellion against ExxonMobil climate change policies
ExxonMobil management was defeated Wednesday by a shareholder rebellion over climate change, as investors with 62.3 percent of shares voted to instruct the oil giant to report on the impact of global measures designed to keep climate change to 2 degrees centigrade.
The shareholder rebellion at the ExxonMobil annual meeting in Dallas was led by major financial advisory firms and fund managers who traditionally have played passive roles. Although the identity of voters wasn’t disclosed, a source familiar with the vote said that major financial advisory firm BlackRock had cast its shares in opposition to Exxon management and that Vanguard and State Street had likely done the same. All three financial giants have been openly considering casting their votes against management on this key proxy resolution.
The shareholder vote on climate change came on a day when President Trump appeared to be nearing a decision on whether to exit the Paris climate agreement, underlining the deep political and economic divisions over how to deal with the global challenge. Even as the Trump administration’s commitment to the climate accord wavered, the Exxon vote showed that climate concerns were gaining ground in the business world.
https://www.washingtonpost.com/news...n-over-climate-change/?utm_term=.0603ffbcf0bd
Financial firms lead shareholder rebellion against ExxonMobil climate change policies
ExxonMobil management was defeated Wednesday by a shareholder rebellion over climate change, as investors with 62.3 percent of shares voted to instruct the oil giant to report on the impact of global measures designed to keep climate change to 2 degrees centigrade.
The shareholder rebellion at the ExxonMobil annual meeting in Dallas was led by major financial advisory firms and fund managers who traditionally have played passive roles. Although the identity of voters wasn’t disclosed, a source familiar with the vote said that major financial advisory firm BlackRock had cast its shares in opposition to Exxon management and that Vanguard and State Street had likely done the same. All three financial giants have been openly considering casting their votes against management on this key proxy resolution.
The shareholder vote on climate change came on a day when President Trump appeared to be nearing a decision on whether to exit the Paris climate agreement, underlining the deep political and economic divisions over how to deal with the global challenge. Even as the Trump administration’s commitment to the climate accord wavered, the Exxon vote showed that climate concerns were gaining ground in the business world.
https://www.washingtonpost.com/news...n-over-climate-change/?utm_term=.0603ffbcf0bd
