Can Liberty Survive Shallowness?
Climate activist hedge fund Engine No. 1 recently waged a proxy war to put insurgent directors on Exxon’s board. Reuters described it as “the first major shareholder contest to make climate change the leading issue for choosing directors.” Engine No. 1 gained the support of BlackRock, Vanguard, and State Street Global Advisors, which voted their combined 21% of Exxon’s shares in favor of two insurgent directors who won election to Exxon’s board. BlackRock supported a third insurgent who was also elected.
The Employees Retirement System of Texas and the Teacher Retirement System of Texas also voted in favor of the three successful insurgent director nominees and a shareholder proposal requiring a report on corporate climate lobbying aligned with the Paris agreement, which passed.
Now what? Is Exxon supposed to abandon its projects in the middle of an energy shortage and start a national coffee chain?
So the activists are in favor of higher gas prices, contraction of the petroleum-based economy, with an inevitable decline in wellbeing and livelihood. And apparently, those corporations who have ridden the free trade train for generations are not committed to it when stressed.
The average guy has fewer and fewer friends.
Climate activist hedge fund Engine No. 1 recently waged a proxy war to put insurgent directors on Exxon’s board. Reuters described it as “the first major shareholder contest to make climate change the leading issue for choosing directors.” Engine No. 1 gained the support of BlackRock, Vanguard, and State Street Global Advisors, which voted their combined 21% of Exxon’s shares in favor of two insurgent directors who won election to Exxon’s board. BlackRock supported a third insurgent who was also elected.
The Employees Retirement System of Texas and the Teacher Retirement System of Texas also voted in favor of the three successful insurgent director nominees and a shareholder proposal requiring a report on corporate climate lobbying aligned with the Paris agreement, which passed.
Now what? Is Exxon supposed to abandon its projects in the middle of an energy shortage and start a national coffee chain?
So the activists are in favor of higher gas prices, contraction of the petroleum-based economy, with an inevitable decline in wellbeing and livelihood. And apparently, those corporations who have ridden the free trade train for generations are not committed to it when stressed.
The average guy has fewer and fewer friends.
1 comment:
You have very clever idea Exon was destined to sell coffee.
Let’s tell the truth, the climate is frequently changing, we’re only about 14,000 years out of the last ice age.
The heart of the global warming fanatics resides in Shadyside , USA
LIBERTY was lost in the USA during the Clinton administration. Bill permitted himself to visit Epstein’s island,
More frequently than anyone else. His Liberty was never compromised, while ours vanished.
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