Category: PATA_Oil_Bad_Week_2021_Related

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‘Black Wednesday’ for big oil as courtrooms and boardrooms turn on industry

By Jillian Ambrose Photo: Stockbyte/Getty Images
The world’s patience with the fossil fuel industry is wearing thin. This was the stark message delivered to major international oil companies this week in an unprecedented day of reckoning for their role in the…

ExxonMobil loses a proxy fight with green investors

Photo: Eyevine
“The stone age did not end for lack of stone, and the oil age will end long before the world runs out of petroleum.” That battle cry animates critics of Big Oil, who dream of…

Shell, Exxon Decisions Highlight Rethink in Energy Investment

By Anna Hirtenstein Photo: Alex Kuzoian
The development of climate change as a factor for investors to consider is shaking the investment world. The Dutch court ruled on Wednesday that Shell must cut its emissions by 45% by 2030, a move…

ExxonMobil Shareholders to Company: We Want a Different Approach to Climate Change

By Nicholas Kusnetz Photo: Callaghan O'Hare/Getty Images
ExxonMobil has spent the last six months locked in a battle for its future, ever since a small investment firm launched a long-shot bid to reshape the company’s board of directors and steer the oil…

Dutch Court Gives Shell Nine Years to Cut Its Carbon Emissions by 45 Percent from 2019 Levels

By Kristoffer Tigue, Dan Gearino Photo: Rafael Henrique/SOPA Images/Getty Images
The Hague District Court verdict is only legally binding in the Netherlands. But the ruling could influence dozens of similar cases around the world, including in the United States. And it’s the first time a…

The Climate Crisis

Photo: Erik McGregor / Sipa / Alamy
In what may be the most cataclysmic day so far for the traditional fossil-fuel industry, a remarkable set of shareholder votes and court rulings have scrambled the future of three of the world’s largest oil…

A Tiny Fund Has Scored A Historic Win Against ExxonMobil Over The Future Of Oil

By Camila Domonoske Photo: Logan Cyrus
In a dramatic boardroom battle on Wednesday, a tiny hedge fund fought with the energy giant ExxonMobil over the future of the oil and gas industry — and won.

Breaking: A climate upheaval at Exxon

By Emily Atkin
At the annual shareholder meeting, an activist investor that owns only about 0.02% of the oil giant’s stock secured at least two seats on the oil giant’s board or directors. The activist fund, called Engine…

The fight for the soul – and the future – of ExxonMobil

By Steven Mufson Photo: Brendan McDermid/Reuters
A group of insurgent investors backed by the three largest pension funds in America is trying to force ExxonMobil to take climate change much more seriously — not just for the sake of the company’s…