Exxon Sues ESG Investors to Stop Climate Proposals on Ballot (3)

Exxon Mobil Corp. filed a lawsuit against US and Dutch climate activist investors in an effort to remove what it describes as their “extreme agenda” from the ballot at its annual shareholder meetings.

The Texas oil giant is seeking a declaratory judgment from the US District Court in Fort Worth to exclude from its annual meeting this year a proposal to accelerate greenhouse-gas emission cuts submitted by Arjuna Capital LLC and the Amsterdam-based non-profit group Follow This.

Exxon argues that a judgment in its favor would tighten the Securities and Exchange Commission’s interpretation of the rules around what proposals get ...