https://www.wsj.com/business/energy-oil/exxon-sues-two-esg-investors-2057e696?mod=Searchresults_pos1&page=1
Exxon Mobil XOM -0.16%decrease; red down pointing triangle is suing two sustainable investment firms in a bid to block them from putting forward a shareholder proposal that would commit the oil company to further curb its greenhouse-gas emissions and target its customers’ emissions.
In a federal lawsuit filed in Texas on Sunday, the Houston-based oil giant said investment firms Arjuna Capital and Follow This became Exxon shareholders only to put forward proposals that would “diminish the company’s existing business.”
Christopher K. Merker, PhD, CFA, is a director with Private Asset Management at Robert W. Baird & Co. and executive-in-residence and co-director of the Marquette S-Lab. He is also founder and chair of the board of Water + Energy Forward, a green bank focused on market-based climate solutions. He holds a PhD in investment governance and fiduciary effectiveness from Marquette University, where he has taught “Sustainable Finance” since 2009. He publishes
Sustainable Finance and is co-author of
The Trustee Governance Guide: The Five Imperatives of 21st Century Investing.
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