Climate investors aren’t expecting a triumphant repeat of what happened two years ago, when Engine No.
1, a San Francisco-based activist hedge fund, stunned the corporate world by landing three of its eco-conscious nominees on Exxon’s board.
Mark van Baal, founder of the activist shareholder group Follow This, was more blunt.
The hedge fund, he said, was “the biggest disappointment in the fight against climate change.”Engine No.
But critics say that green investments are still a tiny percentage of Exxon’s spending, and that the company remains committed to fossil fuels.
Persons:
aren’t, DealBook, Vivienne Walt, ”, Mark Kramer, “, Danielle Fugere, Mark van Baal
Organizations:
Exxon, Legal, General Investment Management, Harvard Business School
Locations:
San Francisco, Berkeley, Calif, Texas, New Mexico