by Michael Bastasch
Oil giant ExxonMobil has capitulated to activist shareholders and will begin issuing detailed reports on potential risks “climate change policies” pose to its business operations.
“These enhancements will include energy demand sensitivities, implications of two degree Celsius scenarios, and positioning for a lower-carbon future,” Exxon wrote in a federal regulatory filing submitted Monday night…
Exxon already issued projections on how global warming and future regulations could affect their business, but activists were unsatisfied. Opponents of the measure, however, say the company was foolish to give in.
“I began telling ExxonMobil management in 2008 that trying to appease climate-activists-dressed-as-investors was a fool’s errand,” Steve Milloy, publisher of the site JunkScience.com and Exxon shareholder, told The Daily Caller News Foundation.
Milloy said “fake investor” activists aren’t interested in benefiting other investors by maximizing profits, but instead “they want to use Exxon as a means of advancing their left-wing social and political agenda,” he said.