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June 1, 2021 The Exxon Vote: Pension Supporters Stay Onboard to Advance Change CalPERS, CalSTRS, and NY Common helped push through outside directors at the oil leviathan, rather than unload its shares.   Sticking around and backing dissident board candidates worked. Instead of divesting from Exxon Mobil, the US’s biggest oil company, the nation’s three largest public pension funds pursued a successful strategy of advocating for change, and they just helped elect a pair of outside directors. Expect more of this tack against fossil fuel outfits.   Running counter to the trend of pension p...

It was a stunning moment for Exxon Mobil Corp. and the wider corporate world - a tiny activist fund had succeeded in changing the company's board.

Larry Fink helped environmental zealots who want to eliminate fossil fuels get elected to ExxonMobil's board of directors.

The energy giant was largely dismissive of the campaign to add representatives of climate activist investors to company board just months earlier

“If you want to keep the temperature low enough that civilisation will survive, you have to keep coal and oil and gas in the ground. That sounded radical a decade ago. Now it sounds like the law.” – Bill McKibben Call it what you will: a setback; a rude awakening; a kick in the behind; a stumbling block; or just a bad few days at the office. However you categorize it, the