Environmental activists seemingly suffered a setback at ExxonMobil’s May 30 annual meeting, when institutional investors mounted a well-orchestrated effort to withhold votes for a director who refused to meet with them and discuss the company’s climate strategy—and failed miserably.
Then again, the same group won 31 percent support for a shareholder resolution calling on the world’s largest oil company to set specific goals to reduce greenhouse gas emissions, three percentage points higher than the last time ExxonMobil voted on the issue in 2005.
