Trade Group Targets Shareholders Pressuring Big Oil on Climate Change

The National Association of Manufacturers (NAM), a 123-year-old trade group that has worked diligently to defend Big Oil in the burgeoning climate liability battles, has also taken on another opponent to the status quo: investors.

In addition to filing briefs in defense of the fossil fuel industry, launching campaigns to discredit the communitiesfiling suits and intervening on the side of the federal government in a landmark constitutional climate lawsuit, Juliana v. United States, NAM has rallied behind efforts to keep corporate shareholders from influencing how oil companies conduct business.

In recent years, shareholders concerned about climate-related risks to the companies’ bottom lines, which includes liability suits, have introduced proposals urging oil and gas companies to reduce their carbon footprint and be more forthcoming about the climate risks to their bottom line.