ANALYSIS: Energy-Sector Shareholders Have Begun to Act Globally

Public investor activists have waged very few campaigns against energy-sector corporations so far this year. But there are indications that stakeholders are looking beyond traditional objectives and pushing for change on issues such as the energy industry’s environmental and social responsibilities and its involvement with global conflicts like the war in Ukraine.

Only six investor activism campaigns in the energy sector have been publicly announced in 2022. That is well off the pace of recent years: Energy companies were faced with 48 campaigns in 2019, 40 in 2020, and 39 in 2021.

In terms of what activists are asking for, ...