ExxonMobil Sues Investors Over Climate Proposals
Originally Published 2 years ago — by The Guardian
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.