Activist investment firm wins 2 seats on Exxon board
Activist investment firm Engine No. 1 has won at least two seats on Exxon Mobil’s board of directors on Wednesday following a tense shareholder meeting.
Engine No. 1, which has a 0.02% stake in Exxon, nominated four independent director candidates to the company’s board but the final vote has not yet been tallied. The firm has been pushing the oil giant to reduce its CO2 emissions and address climate change concerns.
In a separate win for climate activists, Royal Dutch Shell was ordered by a court in the Netherlands to lower its own CO2 emissions by net 45% in 2030 compared to the company’s 2019 levels earlier in the day.
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