Quantcast

Exxon Shareholders Score Major Climate Victory

Popular
350.org

By Jamie Henn

Shareholders of ExxonMobil voted by a 62.3 percent shareholder majority Wednesday instructing the oil giant to report on their impacts on climate change. The result of this vote is a sign that activist pressure on the company is working, said 350.org, a leading international climate campaign.


Along with the shareholder uprising, Exxon is also facing an investigation by multiple Attorneys General over whether it lied to the public about climate change and a divestment campaign that has helped convince more than 730 institutions representing $5.4 trillion in assets to go fossil free.

Exxon's climate lies are finally catching up with them. The company is facing public protest, shareholder anxiety, multiple investigations and a growing divestment campaign. They can try and run from this issue, but they can't hide. Sooner or later, this company will be held accountable for their role in destroying our climate and putting our entire future at risk.

Any real climate risk assessment will show that Exxon's drill-baby-drill business plan is incompatible with a livable planet. Despite shareholder protests, they're still doubling down on fossil fuels when the world is moving in the opposite direction. Exxon's refusal to adapt their business model to a carbon constrained world should send investors running for the exits.

An investment in Exxon is still an investment in climate chaos. Until Exxon commits to keeping fossil fuels in the ground, investors have a moral obligation to move their money elsewhere. That includes major investors like New York State's $170 billion pension fund.

When the markets realize that Exxon won't be able to burn its remaining oil and gas reserves because doing so would put cities like New York and Shanghai underwater, the company's share price is going to plummet. That's not a matter of if, but when.

Exxon is going the way of the typewriter because they're unwilling and unable to adjust to the changing energy landscape. Our job is to make sure they don't take the rest of us down with them.

EcoWatch Daily Newsletter

Scanning electron micrograph of Yersinia pestis, which causes bubonic plague, on proventricular spines of a Xenopsylla cheopis flea. NIAID / Flickr / CC BY 2.0

A middle-aged married couple in China was diagnosed with pneumonic plague, a highly infectious disease similar to bubonic plague, which ravaged Europe in the middle ages, as CNN reported.

Read More Show Less
Milk made from almonds, oats and coconut are among the healthiest alternatives to cow's milk. triocean / iStock / Getty Images Plus

Dairy aisles have exploded with milk and milk alternative options over the past few years, and choosing the healthiest milk isn't just about the fat content.

Whether you're looking beyond cow's milk for health reasons or dietary preferences or simply want to experiment with different options, you may wonder which type of milk is healthiest for you.

Read More Show Less
Sponsored
Greta Thunberg stands aboard the catamaran La Vagabonde as she sets sail to Europe in Hampton, Virginia, on Nov. 13. NICHOLAS KAMM / AFP via Getty Images

Greta Thunberg, the teenage climate activist whose weekly school strikes have spurred global demonstrations, has cut short her tour of the Americas and set sail for Europe to attend COP25 in Madrid next month, as The New York Times reported.

Read More Show Less
The Lake Delhi Dam in Iowa failed in 2010. VCU Capital News Service / Josh deBerge / FEMA

At least 1,688 dams across the U.S. are in such a hazardous condition that, if they fail, could force life-threatening floods on nearby homes, businesses, infrastructure or entire communities, according to an in-depth analysis of public records conducted by the the Associated Press.

Read More Show Less

By Sabrina Kessler

Far-reaching allegations about how a climate-sinning American multinational could shamelessly lie to the public about its wrongdoing mobilized a small group of New York students on a cold November morning. They stood in front of New York's Supreme Court last week to follow the unprecedented lawsuit against ExxonMobil.

Read More Show Less
Sponsored

By Alex Robinson

Leah Garcés used to hate poultry farmers.

The animal rights activist, who opposes factory farming, had an adversarial relationship with chicken farmers until around five years ago, when she sat down to listen to one. She met a poultry farmer called Craig Watts in rural North Carolina and learned that the problems stemming from factory farming extended beyond animal cruelty.

Read More Show Less
People navigate snow-covered sidewalks in the Humboldt Park neighborhood on Nov. 11 in Chicago. Scott Olson / Getty Images

Temperatures plunged rapidly across the U.S. this week and around 70 percent of the population is expected to experience temperatures around freezing Wednesday.

Read More Show Less
A general view of the flooded St. Mark's Square after an exceptional overnight "Alta Acqua" high tide water level, on Nov. 13 in Venice. MARCO BERTORELLO / AFP / Getty Images

Two people have died as Venice has been inundated by the worst flooding it has seen in more than 50 years, The Guardian reported Wednesday.

Read More Show Less