Exxon Battle Was About More Than Board Seats

It brings shareholder-driven climate governance to the forefront.

Jackie Cook 28 May, 2021 | 12:46PM
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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 Corp103.03 USD-3.77Rating
ConocoPhillips57.53 USD-2.51Rating
Exxon Mobil Corp60.40 USD-2.56Rating
Phillips 6684.17 USD-2.87Rating

About Author

Jackie Cook

Jackie Cook  is director of sustainability stewardship research for Morningstar.

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