By Charley Grant, Published June 4, 2021
A win for the ESG movement as two directors, who are displeased with the company’s polices on the climate, were elected by shareholders at Exxon Mobil. The environmental “wokeness” that large corporations display are more often than not viewed as publicity stunts rather then actual awareness to such issues. But among investors and consumers, the demand for impact through their investments is real and growing.
Large fund managers frequently comply with t he recommendations made by shareholder advisory services when voting in a proxy contest. Furthermore, with a rise in demand for ESG and Socially Responsible Investing, it can be expected to see more activist-backed nominees to be elected as directors in companies like Exxon Mobil.