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Exxon sues green finance firms in the Big Oil battle.

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The article discusses the legal battle between oil giant ExxonMobil and two sustainable investment firms, Arjuna Capital and Follow This. The firms submitted a shareholder proposal urging Exxon to set more ambitious emission reduction targets and address the wider emissions caused by the use of its products by customers. However, Exxon argues that the proposal threatens its core business and seeks to interfere with its day-to-day operations. The company has filed a lawsuit against the investment firms in an attempt to block the proposal from going to a vote at its annual shareholder meeting. The outcome of the lawsuit could have significant implications for the future of ESG investing and shareholder activism.

Key points:

  • ExxonMobil is suing two sustainable investment firms to block a shareholder proposal calling for more ambitious emission reduction targets.
  • The company argues that the proposal threatens its core business and seeks to interfere with its day-to-day operations.
  • The lawsuit highlights the ongoing debate over ESG investing and corporate accountability.
  • The outcome of the lawsuit could set a precedent for future cases and impact how companies approach ESG and shareholder engagement.
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