Engine No. 1's big win over Exxon Mobil shows activist hedge funds joining fight against climate change
- Written by Mark DesJardine, Assistant Professor of Strategy and Sustainability, Penn State
Engine No. 1 wants Exxon to focus less on fossil fuels. AP Photo/Matthew BrownOne of the most expensive Wall Street shareholder battles on record could signal a big shift in how hedge funds and other investors view sustainability.
Exxon Mobil Corp. has been fending off a so-called proxy fight from a hedge fund known as Engine No. 1, which blames...