Business
Big corporate emitters caught in a shareholder vice that’s tightening – Sydney Morning Herald
The events that rocked three of the world’s largest oil and gas companies this week demonstrate the acceleration of the environmental push.
Peak oil has already been reached and while there are many decades left of consumption remaining, shareholders are now extremely aware of the danger of oil, gas and coal companies holding stranded assets when the fossil fuel partys over.
The shareholders that challenged Exxons board and supported the appointment of new directors, were made up of the whos, who of large US institutional investors.
For these shareholders the push for change is a financial imperative rather than a moral decision.
The…
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