business-environment3.295 min read
"Yellen Monitors Surge in US Imports from Chile Amid Green Transition Progress"
1 year ago•Source: Reuters
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8.735 min•1 year ago
"ExxonMobil's Legal Battle Against Climate Activist Shareholders"
ExxonMobil is suing investors who repeatedly file shareholder proposals urging the company to reduce pollution and address climate change, claiming that the investors are abusing the system. The lawsuit reflects growing tensions between corporations and activist investors pushing for stronger climate action. While ExxonMobil insists the case is not about climate change, critics argue that it's part of a broader effort to limit shareholder activism on social and environmental issues. The lawsuit comes amid increasing pressure on companies to take more aggressive climate strategies as global temperatures continue to rise, and as corporations face lawsuits from states and municipalities over their contributions to climate change.
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"Exxon and Chevron's Record-Breaking Shareholder Payouts Amidst Oil Profit Surge"
Common Dreams•1 year ago
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ExxonMobil Sues Shareholders to Block Climate Proposals
Quartz•2 years ago
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ExxonMobil Sues Investors Over Climate Proposals
ExxonMobil has filed a lawsuit to block a vote on a climate resolution brought by a Dutch green activist investor group, arguing that the proposal violates SEC investor petition rules. The move is being closely watched by other oil and gas companies and green groups as environmental campaigners attempt to hold fossil fuel companies accountable for their emissions. The lawsuit comes ahead of ExxonMobil's annual meeting in May, and follows a similar resolution facing Shell. ExxonMobil's UK subsidiary, Esso Petroleum Company, saw a surge in pre-tax profits and turnover, driven by economic recovery post-Covid, despite an increase in gross emissions.
"Severe Drought Threatens Panama Canal with $700 Million Loss in Traffic"
A severe drought in Panama has led to a 36% reduction in ship crossings through the Panama Canal, potentially costing between $500 million and $700 million in 2024. The drought has caused chaos in the important trade route, raising concerns about its impact on global trade and prompting calls for more efficient water management and new water sources. The disruption comes at a time when attacks on commercial ships in the Red Sea have already rerouted vessels, further affecting global trade.