Exxon shareholders launch proxy fight against the oil giant's directors

The shareholders said they have engaged with Exxon on climate change and its greenhouse gas emissions since 2005 and the company has "failed to respond adequately" in contrast to peers

A group of Exxon Mobil shareholders launched a proxy fight against the oil giant’s directors after failing to get a climate proposal onto the ballot for the company’s annual meeting. The New York State Common Retirement Fund, led by New York State Comptroller Thomas DiNapoli, and the Church of England, said they would vote against all Exxon directors at the company’s May 29 annual meeting and urged other shareholders to consider doing the same.

Exxon’s “inadequate response to climate change constitutes a serious failure of corporate governance,” they said in a filing on Friday. Scott Silvestri, an Exxon spokesman, pointed to