ExxonMobil chief says Calpers is neglecting members’ interests in AGM vote

Source: Financial Times [UK]

“ExxonMobil’s chief executive has accused Calpers, the largest public pension fund in the US, of neglecting its members’ interests by attempting to organise a shareholder revolt that could ‘stifle and punish’ the oil supermajor. The California fund was playing politics by attacking Exxon for suing two climate-focused investors, Darren Woods wrote in the Financial Times. The investors had submitted shareholder proposals calling on the energy company to do more to cut greenhouse gas emissions. He alleged the investors — US investment adviser Arjuna Capital and Dutch shareholder group Follow This — intended to ‘financially hurt’ Exxon with their resolutions on climate action.” (05/28/24)