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’
Apr 26, 2026 12:48 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
Ethics and economics
Henry Stob, the longtime professor of philosophical and moral theology at Calvin Theological Seminary, authored pendium of articles on various aspects of theological ethics in his 1978 book titled, Ethical Reflections: Essays on Moral Themes (Grand Rapids: Eerdmans). The book is now out of print, but I ran across an excellent section that excellently captures the intent of the work of the Acton Institute. In Chapter 2, “Theological Foundations for Christian Ethics,” he writes: Because man does in fact have...
The growing backlash against globalization
Actonites know about all the benefits of globalization. Most of these benefits are economic but also have much greater and often unseen social impact as well. Increased international trade in goods and services promotes division of labor and an efficient use of scarce resources, resulting in lower-priced, higher-quality products. The poor are often the greatest beneficiaries as both producers and consumers. People all over the e to recognize their increased interdependence, not only with their local grocer or tailor, but...
The white man’s burden
William Easterly, professor of Economics at NYU, has written a new book challenging the prevailing development orthodoxy of increased aid and the “big push” bat poverty in the Third World. The White Man’s Burden: Why The West’s efforts to Aid the Rest Have Done So Much Ill and So Little Good, published by Penguin is to be released on March 20th. I have only read a short bit of it so far, but what I have seen is refreshing. He...
Pro-life progressivism
Last spring I participated in a symposium at the University of St. Thomas School of Law on “pro-life progressivism.” The proceedings have now been published in the school’s law review, which is available here. To simplify, the conference was designed to explore the possibility of extending the political and intellectual appeal of a position that is against abortion and the death penalty, and left-leaning on economic policy. To the organizers’ credit, they invited the airing of opinions critical of pro-life...
Benefits of tort reform
A recent NBER working paper, “The Effects of Tort Reform on Medical Malpractice Insurers’ Ultimate Losses,” argues that “The long run effects of reforms are greater than insurers’ expected effects, as five year developed losses and ten year developed losses are below the initially reported incurred losses for those years following reform measures.” A number of the specific changes in the history of tort law are discussed in Ronald Rychlak’s Trial by Fury: Restoring the Common Good in Tort Litigation,...
Faith and the founding fathers
This is an article worth reading by Steven Waldman in the Washington Monthly, “The Framers and the Faithful: How modern evangelicals are ignoring their own history.” The article examines the attitudes of many 18th century evangelicals toward government, and specifically with respect to a number of the founding fathers, including Jefferson, Madison, and Patrick Henry. While the provacative subtitle may be true, it shouldn’t really be all that surprising. After all, Waldman does a good job throughout noting that “each...
St. Joseph and the sanctification of work
The Solemnity of St. Joseph is usually celebrated on March 19, but as it fell on the third Sunday of Lent, it has been moved to today, March 20. The Solemnity is also the the former-Joseph Ratzinger’s “onomastico” or name/patron saint’s day. In addition to being a patron of the universal Church, St. Joseph is also known as the patron saint of workers. For the occasion, Pope Benedict said the following during his homily in St. Peter’s Basilica yesterday (click...
Fair trade futility
I was intereviewed for this article in yesterday’s New York Times, but I apparently didn’t make the cut. Nevertheless, in “Fair Prices for Farmers: Simple Idea, Complex Reality,” Jennifer Alsever does an excellent job bringing to light some of the dangers that are inherent with external and artificial adjustments to the price mechanism. In the case of the fair trade food movement, the price floor is set artificially at a certain amount, determined to meet or surpass the subsistence needs...
Scholarly communications symposium at Drexel University
I will be speaking at the Scholarly Communications Symposium next month at Drexel University in Philadelphia. On Friday, April 28, I will be the second of three presenters, and will give a talk titled, “The Digital Ad Fontes!: Scholarly Research Trends in the Humanities.” The other speakers are Dr. Blaise Cronin, Rudy Professor of Information Science and Dean of the School of Library and Information Science at Indiana University, and Rosalind Reid, editor of American Scientist, the magazine of Sigma...
Roots of compassion
As mentioned in an earlier post, Acton was in Washington D.C. last week to honor the 2005 Samaritan Award-winning programs. But we managed to do a lot more than hold a reception for our honorees – almost all of them also met with members of Congress to impress upon them the value and importance of private charities in munities. Related items: Acton Senior Fellow Marvin Olasky was interviewed last week by NPR on the White House’s plans to increase faith-based...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved