Engine No. 1’s big win over Exxon shows activist hedge funds joining fight against climate change

Mark DesJardine & Tima Bansal, The Conversation Energy Solutions

Engine No. 1’s big win over Exxon shows activist hedge funds joining fight against climate change
Raymond Kotewicz on Unsplash

Exxon Mobil Corp. has been fending off a so-called proxy fight from a hedge fund known as Engine No. 1, which blames the energy giant’s poor performance in recent years on its failure to transition to a “decarbonizing world.”

In a May 26, 2021 vote, Exxon shareholders approved at least two of the four board members Engine No. 1 nominated, dealing a major blow to the oil company. 

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