This is the third in a five-part series on environmental social and government issues. In this episode, Im manuela saragosa looks at how an unknown hedgefond took on one of America's mightiest companies over climate change. We also ask if activist investors like engine number one can really move the needle when it comes to weaning the world off fossil fuels. And what will investing look like if shareholders keep shaking things up this way?
The story of how a tiny, unknown hedge fund took on a giant of corporate America over climate change - and won. Charlie Penner of Engine No 1 talks about the very public proxy campaign he launched against Exxon Mobil, forcing the oil major to prepare for a future free of fossil fuels.
In the third episode of our special five-part series on sustainable or ESG investing, produced in partnership with the FT’s Moral Money team, Derek Brower, US energy editor, and Attracta Mooney, the FT’s investment correspondent, reflect on whether the battle between Engine No 1 and Exxon marks the beginning of a new kind of activist investor.
Engine No 1, the giant-killing hedge fund, has big plans
DWS probes spark fears of greenwashing claims across investment industry
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Review clips: The Sun, Channel 4 News, Euronews, PBS Newshour, GMA, CNN, CNBC, ExxonMobil
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