Heavyweight Investors Join Rockefeller Rebellion at ExxonMobil. By Andrew Clark, London Guardian, May 22, 2008. "A campaign to persuade ExxonMobil to take climate change more seriously has won support from 19 institutional investors before a potentially explosive showdown at the annual meeting next week. A coalition of disaffected shareholders stepped forward yesterday, including public investment funds from California, New York, Illinois, Maine and Vermont plus the United Methodist Church and the AFSCME public employees' union. They intend to back resolutions calling for Exxon to appoint an independent chairman and to set up a task force tackling global warming... The institutions that came forward yesterday hold... Exxon shares worth $8.6 billion... small in the context of the company's $505 billion market capitalisation, [but the group is] hoping to harness a groundswell of support from fellow investors... 'It is time for Exxon to heed the call of its shareholders,' said Mindy Lubber, president of the environmentally conscious investors' network Ceres. 'Exxon has taken a go-slow approach, failing to prepare for a leadership position in what we know will be a carbon-controlled world.'"
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment