The CEO of ExxonMobil was on CNBC this morning and have an interview in which he said that the company will strive for Net Zero Gas by 2050.
They have not posted a transcript of the report yet.
OTFoolish
XOM is greenwashing again.
Jaak
1 Like
Maybe. They did endure a proxy fight last year in which people seeking a greener approach won two seats on the board. They are making some changes. Will they make money? Will there be more proxy fights and more green seats on the board?
They are talking the talk. But too soon to tell. Ok to be suspicious. Meanwhile we collect our nice dividends.
Meanwhile we collect our nice dividends.
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Maybe you can stomach the immorality of XOM dividends. I would never touch their dividends.
2 Likes
Yes, make no mistake that the reason they are making the change is that their competitors had already made the commitment to change and the popularity of ESG funds among young investors is forcing Exxon to also change.
Starting with the Millennials and going through to the Gen X the younger investors, who will control the future of the markets, are mainly interested in ESG funds for their portfolios.
OTFoolish
The CEO of ExxonMobil was on CNBC this morning and have an interview in which he said that the company will strive for Net Zero Gas by 2050.
The unwritten law in US corporate board rooms today is to adopt a woke image. Woods did this for XOM by claiming all automobiles will be powered by renewable energy by 2050. Ok, he’s punched that card by affiliating with ESG and so, it is hoped, will continue to remain part of the largest ETFs and so maintain their share liquidity and efficient share pricing.
Do the Boards of XOM or MCD or PG really give a rats ass about being woke? Do they believe any of this environmental crap? No…they are just happy not to be condemned by a minority of 18 to 20 year olds as environmentally unfriendly reprobate, as this would be harmful to their brand…and we can’t have that!
BruceM
2 Likes