Bulletin: Exxon Mobil Corp. Investors Demand Action On Climate Change

NEW YORK (S&P Global Ratings) May 27, 2021--In a somewhat surprising outcome, Exxon Mobil Corp. shareholders elected at least two of the four nominees put forward by hedge fund Engine No. 1 to its board of directors. Gregory Goff and Kaisa Hietala will likely bring new ideas to the board regarding the company's long-term strategy for dealing with climate change. Although there is no immediate impact on our credit ratings on Exxon Mobil, this highlights the increasing importance of environmental factors to investors and their demands that companies accelerate actions to become more environmentally responsible. At its annual meeting yesterday, Chevron Corp. shareholders voted an estimated 61% to include Scope 3 emissions in the company's carbon reduction targets. These actions

...May 27, 2021 NEW YORK (S&P Global Ratings) May 27, 2021--In a somewhat surprising outcome, Exxon Mobil Corp. shareholders elected at least two of the four nominees put forward by hedge fund Engine No. 1 to its board of directors. Gregory Goff and Kaisa Hietala will likely bring new ideas to the board regarding the company's long-term strategy for dealing with climate change. Although there is no immediate impact on our credit ratings on Exxon Mobil, this highlights the increasing importance of environmental factors to investors and their demands that companies accelerate actions to become more environmentally responsible. At its annual meeting yesterday, Chevron Corp. shareholders voted an estimated 61% to include Scope 3 emissions in the company's carbon reduction targets. These actions clearly signal investors' increasing demand for more disclosure and actions by the energy industry to provide greater transparency and take faster and more meaningful actions to reduce carbon emissions....

Bulletin