ESG PUSH BACK: Conservatives propose pro-fossil fuel board member for Exxon Mobil
SEC commissioner Hester Peirce discusses the idea of ‘woke’ investing and how BlackRock is pushing back on the GOP on ‘Fox Business Tonight.’
A conservative corporate watchdog group is promoting a pro-fossil fuel scientist and lawyer to serve on the board of Exxon Mobil Corp., attempting to push back against the growingThe National Legal and Policy Center recommended Don van der Vaart, currently a North Carolina judge and former secretary of the state’s Department of Environmental Quality, to serve on the board, as this month, a newrule makes it easier for shareholders to recommend board members.
Last year, progressive investment fund Engine No. 1 proposed a competing set of recommendations for Exxon Mobil’s board, and three of its four choices won approval to be board members. This was a victory for the ESG movement, which stands for environment, social, and governance. In this case, governance would be members of the governing board.
"Engine No. 1 got three of their nominees on the board. Conservatives see that as kind of an insurgency by the pro-ESG folks to try to turn Exxon away from its core competencies and address their climate agenda," said Paul Chesser, director of the corporate integrity project for the National Legal and Policy Center, which owns shares in dozens of companies and has frequently submitted shareholder resolutions.The new SEC rule that took effect on Sept.
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Pushing back against ESG movement, conservatives propose pro-fossil fuel board member for Exxon MobilA conservative group wants a pro-fossil fuel lawyer and scientist on the board of Exxon Mobil Corp., in an effort to confront an 'insurgency' of pro-ESG members
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