Exxon Mobil is facing scrutiny from investors over its climate goals
Legal and General Investment Management and Christian Brothers Investment Services have co-filed a shareholder resolution, calling on the energy giant to provide more disclosures on potentially stranded assets post-energy transition. As the lifespan of oil and gas infrastructure is being shortened amid the low-carbon transition, there is a growing chance companies risk holding stranded assets with expensive decommissioning costs.
The two parties believe the disclosures they are seeking will provide insight about how Exxon estimates AROs in financial statements and the effects of IEA net zero obligations.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: