The battle between America’s biggest oil company and a sustainable-investment firm
- Exxon Mobil is suing Arjuna Capital to block a shareholder proposal on climate change
- Arjuna Capital is a sustainable-investment firm that pushes major corporations to adopt socially conscious policies
- Arjuna has filed similar shareholder proposals at companies like Amazon, Microsoft, Visa, and Tesla
- ESG investing has become increasingly popular in recent years
- Exxon Mobil suffered a defeat in 2021 when Engine No. 1 won two board seats pushing for a clean-energy strategy
- Exxon Mobil argues that Arjuna’s proposal should be dismissed under SEC rules
- Growing pushback against ESG investing, with Republican presidential candidates criticizing it
Exxon Mobil is taking legal action against Arjuna Capital, a sustainable-investment firm, in an attempt to block a shareholder proposal on climate change. Arjuna Capital, founded by Natasha Lamb and Farnum Brown, aims to push major corporations into adopting more socially conscious policies. The firm has previously filed similar proposals at companies like Amazon, Microsoft, Visa, and Tesla. ESG investing, which focuses on environmental, social, and governance factors, has gained popularity in recent years. In 2021, Exxon Mobil faced a defeat when Engine No. 1 won two board seats by advocating for a clean-energy strategy. Exxon Mobil argues that Arjuna’s proposal should be dismissed under SEC rules. The lawsuit comes amidst growing pushback against ESG investing, with Republican presidential candidates criticizing it.
Public Companies: Exxon Mobil Corp. (XOM), Microsoft Corp. (MSFT), Visa Inc. (V), Tesla Inc. (TSLA), Amazon.com Inc. (AMZN)
Private Companies: undefined, undefined, undefined, undefined
Key People: Natasha Lamb (Founder and Chief Investment Officer of Arjuna Capital), Farnum Brown (Founder and Chief Strategist of Arjuna Capital), Jim Jordan (Ohio Republican Representative)
Factuality Level: 7
Justification: The article provides information about Arjuna Capital, its founders, and their mission. It also mentions the lawsuit filed by Exxon Mobil against Arjuna Capital and the shareholder proposal on climate change. The article includes some background information on ESG investing and examples of similar proposals filed by Arjuna Capital. However, it lacks in-depth analysis and does not provide multiple perspectives on the issue.
Noise Level: 4
Justification: The article provides some information about Arjuna Capital and its mission, but it lacks depth and analysis. It briefly mentions the lawsuit by Exxon Mobil but does not provide a comprehensive understanding of the issue. The article also includes irrelevant information about the founders’ study of yoga and their inclusion in various lists. Overall, the article lacks scientific rigor, intellectual honesty, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Exxon Mobil Corp.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to a lawsuit filed by Exxon Mobil Corp. against Arjuna Capital, a sustainable-investment firm. The lawsuit seeks to block a shareholder proposal on climate change. While this event has financial implications for Exxon Mobil, it does not describe an extreme event.
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