The ouster of the three Exxon board members is another blow to fossil fuel companies facing growing pressure to refocus their businesses in light of a dangerously warming world.
Big Oil might have reached its tipping point last week when three major oil companies — ExxonMobil, Royal Dutch Shell, and Chevron — were rebuked by shareholders and the courts for not aligning their strategies with the threat of climate change.
A resolution calling for the Anglo-Dutch company to set binding carbon emissions reduction targets received 30 per cent of votes at the oil company’s annual meeting on Tuesday.