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US oil company ExxonMobil sues investors to block climate petition

Oil giant ExxonMobil has sued climate activist investors in a bid to prevent their climate proposal from going to a vote at its annual investor meeting.

ExxonMobil - one of the one of the world's largest publicly traded international oil and gas companies, has filed a lawsuit against two investment groups that have proposed a shareholder vote on new climate targets.

Follow This, an activist-investor fund in Amsterdam, and Arjuna Capital, an investment adviser, want Exxon to speed up its reduction of carbon emissions. However, the oil giant says the investors are driven by β€œan extreme agenda”.

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(Picture: Picture credit: Getty Images)

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27 minutes

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  • Mon 22 Jan 2024 15:32GMT