From the course: Corporate Finance: Environmental, Social, and Governance (ESG)

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ESG activities and reporting in the oil and gas industry

ESG activities and reporting in the oil and gas industry

From the course: Corporate Finance: Environmental, Social, and Governance (ESG)

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ESG activities and reporting in the oil and gas industry

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- The oil and gas industry is right in the center of the push toward increased ESG related measures and activities. Specifically, oil and gas companies are under fire to declare a plan and to report progress in decreasing the carbon emissions associated with their products. Well, let me tell you a cautionary tale about an oil and gas company that did not make progress fast enough, but that now has positioned itself in the forefront of the fight against carbon. On June 2nd, 2021, it was announced that a third dissident director had been elected to the board of directors of ExxonMobil, joining two others whose election had been previously announced. This meant that the 12 member ExxonMobil board contained three directors who were not approved and nominated by the people who had previously held control of the company. Okay, this amount of insurgent turnover is very unusual in corporate boards of directors. During 2020…

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