Exxon Mobil’s About-Face On Climate Disclosure: Is It Enough?
Scores of investor-activists have sought to force Exxon—along with the entire global industry—to change its ways for nearly three decades. They welcomed the news regarding Exxon Mobil's upcoming climate change risk report. But this change of course did not surprise all of them because it occurred three days before the deadline for shareholders to submit resolutions to be voted on at its 2018 annual meeting. Exxon Mobil's latest move may prevent another episode like what happened in May, when some 62 percent of the company's shareholders—including the massive Vanguard mutual fund company—voted in favor of a resolution demanding that it publicly state how climate change is affecting its operations and bottom line.