Exxon Says ESG Investors Backing Off Ballot Climate Proposal (3)

Two groups of Exxon Mobil Corp. investors have backed off a proposal to push the company to cut emissions during its May shareholder meeting, the Texas oil giant said in a court filing.

In light of the investors’ change of plans, Exxon is withdrawing its request for an expedited hearing to block them, the company said in a statement on Friday. Exxon, however, will continue to pursue the lawsuit.

“We believe there are still important issues for the court to resolve,” Emily Mir, a spokesperson for Exxon, said in an emailed statement.

Exxon last week sued the two investor ...