Red state officials express support for Exxon (2024)
| Environmental, social, and corporate governance |
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Elected officials from 19 Republican states on May 24 responded to CalPERS action against ExxonMobil, writing a letter to asset managers encouraging them not to punish the company and its directors and, instead, to acknowledge their support for legitimate shareholder interests:
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Officials from 19 Republican U.S. states urged major money managers on Thursday not to vote against ExxonMobil's directors at a meeting next week where some shareholders plan to voice their opposition to a lawsuit launched by the oil company against climate activists. The group, including Florida Chief Financial Officer Jimmy Patronis and Louisiana State Treasurer John Fleming, said in a letter to companies including BlackRock, Goldman Sachs and JPMorgan that Exxon's board "deserve our thanks and support... for seeking to rein in activist shareholders". Exxon's pursuit of the case against Arjuna Capital and Follow This over a proposal the company push for stricter climate targets, even after the investor groups withdrew it, has split opinion among shareholders and state officials.[1] |
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- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
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Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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