Home
/
RELIGION & LIBERTY ONLINE
/
Religious shareholders attack ExxonMobil’s reputation, worry about oil giant’s ‘reputational risk’
Religious shareholders attack ExxonMobil’s reputation, worry about oil giant’s ‘reputational risk’
Mar 15, 2026 3:38 AM

The Interfaith Center on Corporate Responsibility, shareholder activists of the corporate God-fly variety, are gearing up for the May 25 ExxonMobil Corporation annual general meeting. The ICCR agenda isn’t about maximizing shareholder value, but seems far more intent on reducing it.

For the record, your writer possesses no financial stake in ExxonMobil, but if he did it’s certain he’d be upset mightily at ICCR’s efforts to hobble the industry giant and send stock prices plummeting even further. The religious-left activists of ICCR have submitted seven proxy resolutions aimed at ExxonMobil this season. Aiming to protect the interests of all its investors, pany challenged the resolutions, but was overruled by the U.S. Securities and Exchange Commission. According to the ICCR website:

Included in this group of resolutions are calls for greater disclosure of lobbying activities that may be tied to the types of climate change denial campaigns currently under investigation, as well as a call for board expertise on environmental issues and a resolution asking that pany acknowledge the “moral imperative of limiting global warming to 2 celsius”, the threshold participants at the COP21 climate talks agreed could not be exceeded if we are to safeguard our planet’s future. Another resolution asks that pany assess the risks of their carbon assets within the context of this carbon-constrained future.

And this, from one of ICCR’s actual resolutions:

As a large GHG [greenhouse gas] emitter with carbon intensive products, ExxonMobil should robustly support the framework to address climate change resulting from the 21st Conference of Parties of the United Nations Framework Convention on Climate Change in December 2015. Constructive engagement on climate policy is especially important given Exxon’s historical role in financing climate denial and misinformation campaigns on climate change. Failing to address this could present reputational risk for ExxonMobil. In contrast to ExxonMobil, ten oil industry peers including Total, Shell, BP, and Saudi Aramco, and business leaders in other industries, support an international agreement to limit warming to 2°C.

Ahhh, “climate denial,” to which your writer sarcastically offers the interrogative: “Could there be anything more morally reprehensible than questioning the veracity of scientifically inconclusive claims of imminent catastrophic climate-change?” But such is the dogmatic nature of these corporate God-flies that the question is rendered rhetorical. Never mind the facts that support the use of fossil fuels as essential to reducing world poverty because facts usually get in the way of a good photo-opportunity.

The Washington Post, in an op-ed this week aimed at a specific U.S. presidential candidate who voices much the same claptrap as ICCR, refutes many of the generalized claims weighed against fossil fuels:

When burned, natural gas produces about half the carbon dioxide emissions of coal. The recent fracking boom contributed to a reduction in national carbon dioxide emissions over the past several years, as utilities switched from cheap coal to now-cheaper gas. It is true that some concerns remain. Methane leaks from natural gas wells and pipelines. Many worry about drinking water near fracking operations. But the government can require drillers to address these issues without shutting the industry. It is also true that natural gas is a waystation; though it is cleaner than coal, natural gas still produces carbon dioxide emissions. Yet gas’s price and emissions profile is still attractive enough that the Environmental Protection Agency’s Clean Power Plan, the most aggressive global warming policy the country has ever had, relies on gas displacing coal to meet medium-term emissions goals….

Nuclear accounts for about a fifth of the country’s electricity, and it is practically emissions-free. Shutting down that much clean electricity generation would put the country into a deep emissions hole…. Yet every dollar spent to replace one carbon-free source with another is a dollar that could have been spent replacing dangerous and dirty coal plants. Under [the candidate’s] vision, either the country would fail to maximize emissions cuts, or it would waste huge amounts of money unnecessarily replacing nuclear plants. Unsurprisingly, the Clean Power Plan relies on nuclear, too, assuming that the country will get about the same amount of electricity from nuclear in 2030.

Now, mind you, your writer doesn’t endorse all of the WaPo’s arguments. First of all, he’s not convinced cheap and plentiful coal should be pletely from our nation’s energy portfolio as opposed to exercising cleaner ways of burning it for energy. And, while “many worry about drinking water near fracking operations” might sound like pelling argument to “some” readers, it’s remarkably vague in identifying specific people, their numbers and the legitimacy of their concerns.

All told, however, it’s a far-more reasoned – and moral – response to the efforts ICCR is waging against ExxonMobil, panies and their respective shareholders.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Transatlantic intelligence: Fast facts on the UK Budget 2017
As Americans made their final arrangements for Thanksgiving, UK Chancellor of the Exchequer Philip Hammond unveiled the annual Budget on Wednesday. Here’s what you need to know. The Budget will spend a total of £809 billion ($1 trillion U.S.), adding £41 billion to the national debt. It makes two policy changes to address the housing shortage, the most important issue to young Brits. Hammond pledged £15.3 billion to build 300,000 homes a year – but none on the so-called greenbelt,...
Wealth creation within global cultural perspectives
Economic development is a key aspect of culture—and at the same time, a challenge to cultural norms. How should Christians reconcile such tension? What is culture’s impact upon the biblical mandate to create wealth for holistic transformation? Earlier this year two evangelical groups, theLausanne MovementandBAM Global, released apaper exploringwealth creation within global cultural perspectives to address these and other questions about culture and wealth creation. In particular, the paper examines the ‘anthropological temptation’: the temptation to idolize culture, and to...
The other capitalist Thanksgiving story: How trade saved the Pilgrims, and the U.S.
By now the Pilgrims’ disastrous experiment with collectivism in Plymouth, Massachusetts, is well-known, in free market circles if not among the young. The story has been printed and popularized – Rush Limbaugh even recites it annually on his radio program. However, trade merce played another, lesser-known role in the first Thanksgiving – and America’s founding, history, and self-definition. Public schools still teach the familiar history of Thanksgiving: that American Indians taught starving Pilgrims useful practices like fertilization. A grateful Governor...
Why we need the profit system
There is a paradox when es to profits, says economist Arnold Kling: while the profits that accrue to any given individual may be unjust, the profit system itself is necessary in order to have a modern, progressive society. There is no simple way for us to enjoy the benefits of the system while ing all of the instances of injustice. Yet despite the injustice, says Kling, the profit system is the most effective, humane way to organize economic activity. The...
Russia still denies the Holodomor was ‘genocide’
Saturday marked “Holodomor Remembrance Day,” honoring the millions of Ukrainians who died of forced starvation at the hands of the Soviets in the 1930s. Some 80 years later, and a quarter-century after the Soviet Union’s dissolution, the Russian government still denies that this atrocity constitutes a “genocide.” Two days earlier – Thanksgiving Day in the U.S. – Russian Foreign Ministry Spokesperson Maria Zakharova told the international press that the Ukrainian government’s use of the phrase “the genocide of Ukrainians” is...
Appreciating the importance of vocational education
If there is one thing young people believe in collectively, it is their individuality. “No two people are alike,” the refrain goes. But in the age of Common Core, educational systems too often treat all students alike, glossing over their unique skills and abilities. A top-down, cookie-cutter curriculum and the decline of vocational education have left too many children, on both sides of the Atlantic, without an ability to exercise their gifts. Erik Lidström, who has written extensively on educational...
Why increasing job safety lowers workers wages
Note: This is post #58 in a weekly video series on basic microeconomics. Here’s a surprising fact: Firms have an incentive to increase job safety, because then they can lower wages. In this video by Marginal Revolution University, economist Alex Tabarrok explores this claim in much greater depth and answers the questions: Why do riskier jobs often pay more? Why has job safety increased over the years? How does a firm’s profit motive play a role? (If you find the...
Natural rights revisited during Salamanca University’s 800th anniversary
Note: Some PowerBlog readers might be wondering why the Acton Institute is holding a Rome, Italy, conference on November 29:Globalization, Justice, and the Economy on 16th and 17th Century Spanish scholasticism (The conference will be broadcast on LiveStream. More information here.) Below is an overview of the importance of this school of thought and the historical implications for the nascent era of globalization. With a royal charter established in 1218, a vibrant cathedral school became the Universidad de Salamanca, the...
5 facts about Black Friday
Today is the unofficial first day of the holiday shopping season. Here are five facts you should know about BlackFriday. 1. The term “BlackFriday” was coined by the Philadelphia Police Department’s traffic squad in the 1950s. According to Philadelphianewspaper reporter Joseph P. Barrett, “It was the day that Santa Claus took his chair in the department stores and every kid in the city wanted to see him. It was the first day of the Christmas shopping season.” Barrettt first used...
Against canned food drives: When gift-giving is wasteful
During a season such as Christmas, when hyper-consumerism and hyper-generosity often converge in strange and mysterious ways, how much of our gift-giving is inefficient or wasteful? It’s a question that economists continue to ponder, but to which many a gift-giver is prone to shrug. In one sense, isn’t the whole pointto mirror the most extravagant gift of all? Why be concerned about “wasteful” giving? But if the starting points of our generosity e decidedly apathetic or misaligned with actual human...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved