Exxon Mobil will face a big challenge over its climate change policies at an annual shareholder meeting on Wednesday as activists contest the election of one-third of the company’s board. A coalition of investors concerned about the environment has argued that Exxon has not invested enough in cleaner energy, which will hurt its profits in the future. 1, is seeking to defeat the election of four of the company’s director candidates and has proposed four of its own. Some big pension funds, including the New York State Common Retirement Fund and the California Public Employees’ Retirement System, have joined Engine No. “We listen, and we hear,” Mr. Woods said in an interview in which he tried to take a conciliatory tone.

Source: New York Times May 26, 2021 12:22 UTC