A failing governance structure propagated by a management without a strategy for the energy transition was behind Engine No. 1's quest to bring independence to ExxonMobil's board, Chris James, founder of the U.S. hedge fund told Reuters.
Governments, companies and individuals are taking steps to cut their carbon footprints and enable the energy transition which includes electric vehicles and renewable energy such as wind turbines and solar.has been an outlier in transparency and accountability in its environmental impact, James said in an interview at the Reuters Next Conference."This is a company that has lost its social licence ...
Three of four people with energy transition experience nominated by Engine No. 1 joined ExxonMobil's board earlier this year.
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