Go to Article
Excerpt from www.dmnews.com
Darren Woods, CEO and Chairman of ExxonMobil, faces potential opposition to his re-election to the corporation’s board by Calpers – America’s largest public pension program – due to Exxon’s litigation against two environmentally conscious investors: Arjuna Capital and Follow This. Exxon is seeking to block a resolution calling for stricter measures in reducing greenhouse gas emissions, thereby contradicting global efforts to combat climate change.
Calpers, which represents numerous state and local public employees, aligns its investments with an increasingly eco-conscious direction. It has been a significant player in promoting ethical investment strategies, with investment decisions that hold substantial weight due to its massive fund.
As Exxon’s approach to fossil fuels and climate change comes under increased scrutiny, this conflict could potentially mark a turning point. Exxon’s policies must shift toward more environmentally friendly practices to prevent negative consequences, which could affect company’s market standing.
About The Author
