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Viewsroom

Viewsroom: Big Oil’s global blow

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 27 May 2021

⏱️ 16 minutes

🧾️ Download transcript

Summary

A small activist fund upended Exxon Mobil’s board while Shell was dealt a setback in a Dutch courtroom. At the same time, Chevron shareholders backed a proposal to cut more emissions. The interests of both stakeholders and shareholders are rapidly aligning in fossil fuels. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Where do you find a clear signal in a world of static?

0:03.2

In a time of rapid change cut through the noise,

0:06.2

the economist goes beyond the headlines to decode the forces shaping today and defining tomorrow.

0:12.7

Get the full story.

0:14.1

It's more than news.

0:15.4

It's a trusted global perspective.

0:17.2

The economist know which way is up.

0:20.8

The views expressed on this podcast are those of the participants, not of Rogers News.

0:30.5

Welcome to the views room. I'm Lauren Silva Loughlin, broadcasting from Connecticut, and I'm joined

0:36.4

by Richard Beals in New York City and

0:38.7

Rob Searin in Westchester.

0:40.6

Thank you guys for joining me today.

0:43.0

Good to be here, Lauren.

0:45.4

What a day.

0:47.0

One of those days where it's an exciting time to be a financial journalist, I think, history

0:51.5

was sort of made today when a group of very small activists

0:54.8

upended the board of directors at fossil fuel giant ExxonMobil. They gained at least two of,

1:01.5

there are four directors that they nominated with the help of some institutional giants

1:05.4

like BlackRock and the votes are still being counted. Rob, we've been watching this for a long time.

1:11.9

In fact, well, over a year ago, we zeroed in on Exxon as being sort of the white whale

1:17.1

of activism.

1:19.9

And it's pretty remarkable that this small group of activists ended up being successful.

...

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