Oil Giants Face Pressure to Act on Climate Change

Some of the world’s biggest oil companies are under pressure to take more action to address climate change.

ExxonMobil shareholders Wednesday elected at least two members proposed by hedge fund Engine No. 1 to serve on the company’s 12-member board of directors. The fund said in a statement earlier this week that the board needed “directors with experience in successful and profitable energy industry transformations who can help turn aspirations of addressing the risks of climate change into a long-term business plan, not talking points.” ExxonMobil shareholders also voted in favor of a proposal requiring the company to report on its climate change lobbying activities.