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Reuters: Exxon Lobbyist Investigated Over Leak Of Environmentalist Emails
The FBI has been investigating a longtime Exxon Mobil (NYSE:XOM) consultant over the contractor’s alleged role in a hack-and-leak operation that targeted emails by environmentalists critical of Exxon Mobil’s role in climate change, Reuters has reported exclusively.
The multi-year operation involved hackers who breached email accounts of environmental activists and others. The scheme allegedly began in late 2015, when U.S. authorities contended that the names of the hacking targets were compiled by the DCI Group, a public affairs and lobbying company working for Exxon at the time.
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For years, Exxon Mobil has been a target for climate activists. Two years ago, the company lost three board seats to Engine No. 1, an activist hedge, in a stunning proxy campaign. Engine No. 1 demanded that Exxon needs to cut fossil fuel production for the company to position itself for long-term success. “What we’re saying is, plan for a world where maybe the world doesn’t need your barrels,” Engine No.1 leader Charlie Penner told the Financial Times. Engine No. 1 enjoyed a stunning victory thanks to support from BlackRock Inc. (NYSE:BLK), Vanguard and State Street who all voted against Exxon’s leadership.
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However, the backlash against Big Oil has faded in recent years even as the countries everywhere rush to beef up their energy security. In 2022, Exxon recorded a major victory after its shareholderssupported the company’s energy transition strategy at the annual general meeting. Only 28% of the participants backed a resolution filed by the Follow This activist group urging faster action to battle climate change; a proposal calling for a report on low carbon business planning received just 10.5% support while a report on plastic production garnered a 37% favorable vote.
Following in the footsteps of its larger peer, Chevron Corp.(NYSE:CVX) shareholders likewise voted against a resolution asking the company to adopt greenhouse gas emissions reduction targets, indicating support for the steps the company already has taken to address climate change. Just 33% of shareholders voted in favor of the proposal, according to preliminary figures disclosed by the company, a sharp turnaround from last year when 61% of shareholders voted to support a similar proposal.
By Alex Kimani for Oilprice.com
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