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ExxonMobil refinery in Baton Rouge, Louisiana. WClarke / CC BY-SA 4.0

The world's largest oil company is being pressured by major shareholders to take action on climate change.

Institutional investors with an estimated $1.9 trillion under management, led by the New York State Common Retirement Fund (NYSCRF) and the Church Commissioners of England (CCE), filed a shareholder resolution calling on ExxonMobil to set targets for lowering its greenhouse gas emissions, covering emissions from both its operations and the use of its products.

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