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CalSTRS Supports Engine No. 1 Candidates for ExxonMobil Board

Feb. 3, 2021, 5:54 PM

ExxonMobil board requires “significant change” and the candidates submitted by Engine No. 1 are equipped with the skills needed to address the company’s financial underperformance, the California State Teachers’ Retirement System said.

  • The company’s plan to invest $3 billion over five years on carbon capture and lower-emission energy technologies is inadequate, CalSTRS said in a statement.
    • “We are concerned that this minor investment is not part of a bigger and more significant long-term strategy to remain competitive in a rapidly changing world,” CalSTRS said
  • One director is not enough to drive the systemic change necessary at ExxonMobil: CalSTRS
  • NOTE: CalSTRS, ...