"The real critique of ExxonMobil right now is that neither the CEO, nor the
board, nor management have a plan for appropriately managing the assets of
the company given the challenge of climate change. "
Mark Bateman, Investor Responsibility Resource Center.
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Dear Concerned Shareholder:
Climate change poses real challenges to investors and companies alike. For the oil and gas industry, the stakes are probably the highest. BP and Royal Dutch Shell have created targets and timetables for reducing emissions, and have external auditors verifying their progress. Most of the oil majors have begun investing in low- and zero-carbon technologies so they have a diversity of energy products to meet future demand. Several oil companies discuss climate change in their 10-K filings.
Shareholders in ExxonMobil may be left wondering: What are the company's goals for reducing emissions? How will the company ensure that it will have relevant products in countries with aggressive emissions-reductions goals? How will ExxonMobil address the facets of climate change that will have direct and lasting impact on the bottom line?
Convincing ExxonMobil to take a responsible position on climate change isn't just for the benefit of the company's shareholders. Without a turnaround from ExxonMobil, it will be very difficult to create global solutions to global warming. As The Economist says, "ExxonMobil.is.the world's most powerful climate-change skeptic."
That's why Campaign ExxonMobil is working to convince the company that its practices are creating a global threat to the environment and the economy as well as putting shareholders at unnecessary risk. We work with institutional investors, corporate governance activists and financial analysts to focus on educating the company's investors about the financial risks of global warming, and how ExxonMobil is handling it.
Please have a look around our web site, read through the information, and consider joining fellow shareholders in calling on ExxonMobil to take a responsible position on global warming.
Peter Altman
National Coordinator, Campaign ExxonMobil
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