"Exxon Rebuts Proxy Advisor, Says Net Zero Emissions Scenario 'Unlikely'" - Reuters News
Portfolio Pulse from Happy Mohamed
Exxon Mobil has pushed back against investors and proxy advisor Glass Lewis, stating that the prospect of achieving net-zero carbon dioxide emissions by 2050 is remote and should not be further evaluated in its financial statements. A shareholder proposal seeking a report on the cost of having to abandon projects faces a vote on May 31.
May 18, 2023 | 7:42 pm
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Exxon Mobil has rejected the idea of evaluating net-zero emissions by 2050 in its financial statements, potentially affecting its stock price.
Exxon Mobil's dismissal of the net-zero emissions scenario could lead to mixed reactions from investors. While some may view this as a sign of the company's confidence in its business model, others may see it as a lack of commitment to environmental responsibility. The upcoming shareholder vote on May 31 could provide more clarity on the market's perception of this issue.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100