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Bloomberg
Big Oil’s Climate-Change Takedown Arrives With Stunning Rebukes
(Bloomberg) — Fresh from striking a hammer blow in the boardrooms of the world’s biggest oil companies, the climate movement has a clear message: the energy transition is happening and there’s no turning back.Just five years ago, environmental activists were limited to waving placards outside of annual meetings and to the odd shareholder proposal, inevitably rebuffed by the boards and management teams. On Wednesday by contrast, stock investors ousted two Exxon Mobil Corp. directors seen as insufficiently attuned to the threat of climate change, while Chevron Corp. shareholders voted for a proposal to compel the company to reduce pollution by its customers. Royal Dutch Shell Plc was ordered to slash emissions harder and faster than planned by a Dutch court.It was a humiliating loss for Exxon, the Western world’s biggest oil company, made worse by the fact that the the…
