ExxonMobil sues activist shareholders to block climate resolution
The outcome of the lawsuit could set a powerful precedent in the world of corporate climate action.
ExxonMobil has filed a historic lawsuit against two of its own shareholders to prevent a resolution asking it to include Scope 3 emissions in its climate agenda from going to a vote at its next annual general meeting in May.
The US oil giant is suing activist shareholder group Follow This and US investment firm Arjuna Capital over their proposal to include Scope 3 emissions in its decarbonisation agenda. The company argues that shareholders already rejected Scope 3 targets last year, so there is no point in submitting this proposal to another vote.
