Exxon Battle Was About More Than Board Seats

It brings shareholder-driven climate governance to the forefront

Jackie Cook 1 June, 2021 | 10:56AM
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Bridge in Forest

It’s very rare that corporate proxy elections make front-page news, but the shareholder vote at Exxon this week was a notable exception, and for good reason.

Against the recommendation of Exxon’s own executives,  two candidates were elected to the energy giant’s board on the pledge that they will push the company away from a business model focused on climate-damaging fossil fuel, and toward a greater focus on renewable energy. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Chevron Corp106.05 USD2.93Rating
ConocoPhillips60.45 USD5.08Rating
Exxon Mobil Corp62.59 USD3.63Rating
Phillips 6687.35 USD3.78Rating

About Author

Jackie Cook  Jackie Cook is head of sustainability research at Morningstar

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