Shareholder Activism

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IEEFA update: How should shareholders react to New York’s ExxonMobil lawsuit?

Time to hold management accountable

Acting New York State Attorney General Barbara Underwood has sued ExxonMobil for fraud, alleging the company misled investors about how its current and future profitability was—and will be—shaped by climate change. The Attorney General’s case tests legal compliance. ExxonMobil shareholders face a different test. The lawsuit charges that ExxonMobil, in effect, kept at least two […]

and October 29, 2018 Read More →

Activist Shareholders ‘Try to Wake Up’ Underperforming Oil and Gas Sector

Wall Street Journal: A private-equity firm with a large stake in Houston explorer Carrizo Oil & Gas Inc. is calling on the company to sell assets or combine with a rival, the latest sign that activist investors are focusing more on the energy sector. Kimmeridge Energy Management Co. has built up an 8.1% stake in […]

April 6, 2018 Read More →

Shell Oil Knew of Climate-Change Likelihoods Decades Ago

InsideClimate News: Internal company documents uncovered by a Dutch news organization show that the oil giant Shell had a deep understanding, dating at least to the 1980s, of the science and risks of global warming caused by fossil fuel emissions. They show that as the company pondered its responsibility to act, Shell’s scientists urged it […]

April 5, 2018 Read More →

Big Investors Continue to Press for Climate-Risk Transparency Across Oil and Gas Industry

S&P Global Market Intelligence ($): Investors concerned about environmental issues hope big fund managers, such as Vanguard Group Inc. and BlackRock Inc., will continue to push oil and gas companies to make plans for a carbon-constrained future, even after a decision by SEC staff that has dampened the momentum of such shareholder motions. Sixteen oil […]

April 5, 2018 Read More →