Another victory against climate activists Exxon Mobil A third member was elected to the oil giant’s board on Wednesday, amid criticism it raised stakes for the company, it has done little to address the growing threat of climate change.
Exxon said Alexander Karsner, a strategist who works here GoogleThe parent company of Alphabet, and which has experience in the renewable energy sectors, garnered enough votes to sit on the board. He served as the Assistant Secretary of Energy for Energy Efficiency and Renewable Energy at the Department of Energy under President George W. Bush and worked for companies that helped building large solar plants, bringing deep environmental credentials to the fossil fuel producer, The New York Times reported.
Carsner joins two other board members Pushed by a Small, Activist Hedge Fund Called Engine No. 1, that prompted some of Exxon’s biggest investors to call on the oil giant to revamp its business model to better address climate change and eventually invest in renewable energy sources. Gregory Goff and Cassa Hitala were also elected last month, both of whom have experience in the energy industry. The fourth nominee, touted by Engine No. 1, lost.
Exxon was largely able to push its choice to fill the company’s 12-member board, and the result reflects the defeat of its leaders.
“We look forward to working with all of our directors on what we have done to drive long-term shareholder value and succeed in a low-carbon future,” said Darren Woods, Exxon’s President and CEO. said in a statement. “We thank all shareholders for their engagement and participation, and for their continued support for our company.”
The results are still preliminary, but they have been filed with the Securities and Exchange Commission and will be certified and validated by an independent inspector.
several major Shock to oil companies for their business practices in the recent past. A court in the Netherlands last week ordered Royal Dutch Shell to reduce its carbon dioxide emissions by 45% from 2019 levels by the end of the decade. And last Wednesday, Chevron shareholders voted to force the oil giant to plan to cut emissions generated by its products.
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