It’s a bizarre world where massive financial institutions and oil companies offer more hope for climate action than the president, but that’s where we are — welcome!
On Wednesday, a (very tame) uprising broke out at the ExxonMobil shareholders meeting in Dallas. A majority — 62 percent — of the company’s investor institutions voted for Exxon to examine how climate policies and changing consumer behavior will affect its assets. The resolution called for a comprehensive annual report on climate and its business. ExxonMobil’s leading shareholders are the investment management companies BlackRock and Vanguard, which collectively control over $9 trillion of the world’s assets.