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Church of England dumps all ExxonMobil stock

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Church of England, in York, northern England © Phil Noble
Church of England reveals huge investment in Google

“As we have discussed during our most recent conversations with Exxon Mobil Corporation (Exxon), we continue to see a gap in the company’s disclosure and action with regard to several components of its climate risk management,” BlackRock said in its rationale for voting contrary to Exxon’s board’s recommendations at its shareholders’ meeting this year.

After Exxon’s meeting, Edward Mason, Head of Responsible Investment for the Church Commissioners for England, said:

“Exxon needs to join its peers and set out a strategy for transition to net zero emissions. Investors will not tolerate a board that is not capable of steering a course consistent with the goals of the Paris Agreement.”

This article was originally published on Oilprice.com

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