New hedge funds bask in Exxon’s climate spotlight

“We called for change at ExxonMobil, and a record number of shareholders, including many of the largest investors in the world, voted to hold the company accountable, ” the pension fund said in a statement after the vote on Wednesday.

BOSTON: The successful board challenge against Exxon Mobil Corp casts a spotlight on two recently launched sustainability-focused investment firms that took opposite sides in the high-stakes battle: Engine No. 1 and Inclusive Capital Partners.

Engine No. 1 set the spark in January by formally nominating four directors to Exxon’s board, accusing it of not moving fast enough to diversify away from fossil fuels.