January 25

Exxon Files Lawsuit Against Investors’ Climate Proposal

By Sabrina Valle and Nate Raymond

Exxon Mobil Corp (XOM.N), opens new tab on Sunday filed a complaint in a Texas court seeking to prevent a climate proposal by activist investors from going to a vote during the company’s shareholder meeting in May.

This is the first time Exxon is seeking to exclude a shareholder proposal by filing a complaint in court. The case was assigned to a judge with a track record of ruling in favor of conservative causes.

Photo courtesy of Raymond Kotewicz.

Source: Reuters (link opens in a new window)

climate change, decarbonization, ESG, governance