ExxonMobil has filed lawsuits against two activist organizations, Arjuna Capital and Follow This.  At issue are proposed shareholder resolutions relating to the activities of the company with regard to the environment.  Traditionally boards of companies oppose shareholder resolutions on ESG, welfare that invariably are rejected based on institutional ownership of equity.

In this case, ExxonMobil has reacted aggressively and has filed a lawsuit against the activist organizations. The Company claims that the proposals would be detrimental to financial performance and would reduce shareholder value.

Although this commentator is in favor of eventually moving towards a higher proportion of renewable energy, the realities are that the U.S. and other industrialized nations have based their economies on fossil fuels. Restrictive legislation over the short term will be disruptive and in fact may prove detrimental to reducing greenhouse gas (GHG) emissions and to decarbonization.

Activists have a negative mindset and are not participating in a practical ands collaborative way with society and industry to redress the problems of GHG emissions and global warming.