Well yes, I wonder if they had a plan beyond the statement.
Exxon produces less than 3% of the world's daily crude demand and in May its shareholders overwhelmingly rejected calls for stronger measures to mitigate climate change.
"It's those darn shareholders! Our hands are tied!"
Seems like the reasoning they are going with. Really we need to make it somehow more profitable to do the right/climate focused things.
Not that it's a good excuse, but isn't that true? Investors ultimately elect executive management.
The abstraction between investor ownership and company management is one of the most damaging structures ever built.
Take your pick! https://imgur.com/a/856MuzH
Well yes, I wonder if they had a plan beyond the statement.
"It's those darn shareholders! Our hands are tied!"
Seems like the reasoning they are going with. Really we need to make it somehow more profitable to do the right/climate focused things.
Not that it's a good excuse, but isn't that true? Investors ultimately elect executive management.
The abstraction between investor ownership and company management is one of the most damaging structures ever built.
Take your pick!
https://imgur.com/a/856MuzH