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Submission: On January 22 via manual from US — Scanned from US
Submission: On January 22 via manual from US — Scanned from US
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Skip to contentSkip to site index Search & Section Navigation Section Navigation SEARCH Business SUBSCRIBE FOR $1/WEEKLog in Monday, January 22, 2024 Today’s Paper SUBSCRIBE FOR $1/WEEK Business|Exxon Sues to Prevent Climate Proposal From Shareholder Vote https://www.nytimes.com/2024/01/22/business/exxon-climate-change-lawsuit.html * Share full article * * Advertisement SKIP ADVERTISEMENT Supported by SKIP ADVERTISEMENT EXXON SUES TO PREVENT CLIMATE PROPOSAL FROM SHAREHOLDER VOTE The complaint, filed in a U.S. District Court in Texas, said a proposal by activist investors calling for the oil giant to cut emissions faster would not create shareholder value. * Share full article * * * Read in app Exxon called a shareholder proposal on emissions “constraining and micromanaging.”Credit...DeSean McClinton-Holland for The New York Times By J. Edward Moreno Jan. 22, 2024, 10:26 a.m. ET Exxon Mobil is suing two activist investors to prevent their proposal calling for emissions cuts at the oil giant from coming to a vote of shareholders. In a complaint filed in U.S. District Court for the Northern District of Texas on Sunday, Exxon accused the investors, Arjuna Capital and Follow This, of abusing the process for proposing shareholder votes to advance their priorities with votes “calculated to diminish the company’s existing business.” Arjuna filed a proposal in December for a nonbinding resolution that urged Exxon to accelerate its plans to reduce its carbon emissions and expand the scope of the emissions it measures to include its suppliers and customers. Follow This joined in support of the proposal shortly thereafter, according to the complaint. Subscribe to The Times to read as many articles as you like. J. Edward Moreno is a business reporter at The Times. More about J. Edward Moreno * Share full article * * * Read in app Advertisement SKIP ADVERTISEMENT SITE INDEX SITE INFORMATION NAVIGATION * © 2024 The New York Times Company * NYTCo * Contact Us * Accessibility * Work with us * Advertise * T Brand Studio * Your Ad Choices * Privacy Policy * Terms of Service * Terms of Sale * Site Map * Canada * International * Help * Subscriptions Enjoy unlimited access to all of The Times. See subscription options