Categories
Uncategorized

Climate-change activist hedge fund wins at least two seats on the ExxonMobil board of directors in major corporate coup

A small hedge fund with an activist mission to address climate change has won two seats on the board of directors of ExxonMobil, one of the world’s largest fossil fuel producers, with two seats still too close to call, NPR reports.

The hedge fund, Engine No. 1, is a group started less than a year ago by Chris James, a technology hedge fund veteran, with the idea of using investment money to inspire change in the companies they invest in.

“The firm was founded on the shared belief that a company’s ability to create long-term shareholder value depends on the investments it makes in jobs, workers, communities, and the environment,” Engine No. 1 says on its “About Us” page of a site devoted to “reenergizing ExxonMobil” through the recomposition of the 13-member ExxonMobil board of directors.

A overtly environmental-enlightened hedge fund gaining seats on the board of a fossil fuel company demonstrates a seismic shift in the thinking of institutional investors who own the majority of shares in the company.  It will push the oil giant to more aggressively pursue climate-friendly policies and operations as well as push the company to investigate different ways to produce energy.

Engine No. 1 appealed to ExxonMobil’s disappointing financial performance as the oil and gas market expanded in the past decade.

“10 years ago, ExxonMobil was the largest company in the world by market capitalization and the #1 company in the Dow Jones Industrial Average (DJIA),” the fund declares.  “Prior to our campaign, however, its market capitalization had been cut in half and ExxonMobil had been kicked out of the DJIA.  Further, this historical underperformance occurred with growing oil and gas demand and yet the Company has no credible strategy to create value in a decarbonizing world.”

Created by potrace 1.16, written by Peter Selinger 2001-2019

WHAT A STUNNING ABUSE OF POWER!

12 hours ago

Flood watch issued for Los Angeles area

12 hours ago

“The Media” will be lying about kids and families being deported

14 hours ago

Susie Wiles limits Ketamine Brain’s access to Trump: Daily Mail

16 hours ago

Mexico denies US military deportation flight permission to land

17 hours ago

Movie Night Friday: Best in Show

1 day ago

Pete Hegseth confirmed to Secretary of Defense

1 day ago

WATCH LIVE: Orange God Emperor tours Los Angeles

1 day ago

Harvard Law professor wastes valuable seconds explaining why dickhead Andy Ogles’s third term amendment going nowhere

1 day ago

Navajo leader says tribe members being arrested by ICE

1 day ago

Baby Goebbels pissed elementary school wouldn’t let ICE in

1 day ago

New Jersey hit with sad, low-energy, weak earthquake

1 day ago

Oklahoma AG requests DOJ transfer prisoner for prompt execution

1 day ago

“Certainly I would not take responsibility”

2 days ago

Trump pulls Fauci’s security detail

2 days ago

Congolese governor killed in battle with rebels

2 days ago

United Healthcare hires new CEO

2 days ago

Demented old asshole doesn’t remember inviting Schiff on trip

2 days ago

Border Patrol agent’s funeral apparently won’t be a campaign stop

2 days ago

Fox News reports releasing violent felons from prison is bad

2 days ago

Puerto Rico-born veteran detained in New Jersey ICE raid

2 days ago

Orange Messiah to hold campaign rally in Las Vegas on Sunday

2 days ago

Operation “Appearance of Mass Deportation Underway” underway

2 days ago

High school dropout mistakenly screams over “guy” in ladies’ room

2 days ago

Nobody got shot in New York City for five days

2 days ago

Andy Ogles gunning hard for that pardon

2 days ago

“The problem is the president doesn’t have any leverage over him and Elon gives zero fucks”: Trump minion on AI project shitposts

2 days ago

Hegseth told Liz Warren he paid rape accuser $50,000

2 days ago

Nobody knows more about central banking

2 days ago

Orange Felon declassifies JFK, RFK, and MLK assassination files

2 days ago

Mike Johnson killed Cassidy Hutchinson subpoena over fears she would testify about sexually explicit texts House GOP sent her

2 days ago

Federal judge blocks Trump’s birthright citizenship order

2 days ago

FBI raids Rhode Island immigration lawyer’s office

3 days ago

Remote island off Antarctica in path of trillion-ton iceberg

3 days ago

WATCH LIVE: Globalist pretends he isn’t one in Davos address

3 days ago

Trump pulls security detail from Mike Pompeo, former top aide

3 days ago

Gasoline costs 3 cents more per gallon than it did a week ago

3 days ago

Ketamine Brain grateful for some Jew cred to back him up here

3 days ago

Nashville school shooter was influenced by Candace Owens

3 days ago

Fox News reports new Papist plot to undermine US sovereignty

3 days ago

“Episode 5 started with small spatter fountains”

3 days ago

Mississippi Dem intros “Life Begins at Erection” Act

3 days ago

Border Patrol ordered to summarily deport asylum claimants

3 days ago

“A country that lives in forest”

3 days ago

Orange Antichrist names zealot to lead US media agency

3 days ago

New fire threatens jail in Los Angeles County

3 days ago

Fired House Intel Chair worried replacement will be too focused on “Deep State” circlejerks rather than actual threats to America

3 days ago

Nancy Mace eyeing gubernatorial run

3 days ago

House GOP to continue investigating January 6th investigation

3 days ago

MAGA Congressman publicly badgers “moderate” colleague

3 days ago

x
x
x
x
x
x