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CalPERS to vote against ExxonMobil’s board of directors
Investors - MAY 21, 2024

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CalPERS to vote against ExxonMobil’s board of directors

by Lewis Dayton

CalPERS will be voting against ExxonMobil’s board of directors and CEO, Darren Woods, because the company is continuing to pursue a lawsuit against Arjuna Capital and Follow This, two activist investors who submitted a shareholder proposal that would have forced ExxonMobil to reduce direct emissions and set targets for lowering emissions at suppliers and customers levels as well.

Arjuna Capital and Follow This withdrew their proposal after they were sued in Texas federal court in January, but ExxonMobil is continuing to pursue the lawsuit, which would prevent the Arjuna Capital and Follow This from ever again submitting such a proposal, wrote Rohan Goswami for CNBC.

In a letter from CalPERS CEO Marcie Frost and CalPERS board president Theresa Taylor, the two wrote, “For almost four decades, CalPERS has use

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