Votes of No-Confidence in ExxonMobil’s Climate Leadership

Before entering ExxonMobil’s annual meeting in Dallas last week, shareholders had to pass local activists holding a 100-foot-long banner with the message “Climate Crisis: #ExxonKnew—Make Them Pay.” I attended the meeting for the fourth year in a row and was not surprised that, once inside, shareholders wanted a voice in the company’s handling of climate change issues. ExxonMobil blocked them from voting on shareholder proposals specifically about climate change, so they used every opportunity to express their discontent with the company’s climate action. Despite the spin that shareholders “rejected” the climate-related proposals, the results are actually a vote of no-confidence in how ExxonMobil’s leadership is addressing climate change.