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Investors withdraw Exxon climate proposal after court complaint

Posted on AllSides February 2nd, 2024
From The Center
REUTERS/Sergio Moraes/File Photo

Activist shareholders said on Friday they had withdrawn a climate proposal they had intended to put for vote during Exxon Mobil (XOM.N), opens new tab' annual meeting after the oil giant sought to block the move through a Texas court.

"There is no basis for Exxon to continue this attack" after the proposal was withdrawn, said Arjuna Capital, who had filed the proposal with activist investor group Follow This.

"This amounts to tactics of intimidation and bullying" to silence investors that voice climate-risk concerns," said Natasha Lamb, Arjuna Chief Investment...

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