WASHINGTON – Background: Today, ExxonMobil will hold its Annual General Meeting which includes a highly anticipated proxy battle to replace 4 board board members with candidates set forward by activist investment firm Engine No. 1. The vote comes amid calls from shareholders and stakeholders for Exxon to bolster its climate strategy which lag behind other oil giants like Shell or Bp. ExxonMobil currently lacks any net zero or absolute emissions reduction commitments and relies on increasing its exploration and production of oil and methane gas despite recent calls from the International Energy Agency to halt new fossil fuel projects in order to reach global net zero goals.
Statement from Josh Eisenfeld, Earthworks Corporate Accountability Communications Campaigner:
“No matter the outcome of today’s vote, the future of ExxonMobil depends on acting on climate to match its rhetoric in advertising and press statements. Cutting oil and gas methane pollution is essential to avoiding climate catastrophe.
“Any company claiming to be serious on climate should join calls on President Biden to use the full force of the Clean Air Act to cut methane emissions 65% by 2025.”
0 Comments