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World's biggest publicly traded company loses shareholder battle over climate

ExxonMobil's management has been defeated by a majority of the company's shareholders, who want the US oil giant to make special climate calculations.

Photo: /ritzau/AP/Matt Brown/Arkiv

The day before it emerged the president Donald Trump was pulling the US out of the climate deal entered in Paris in 2015, management in one of the country's largest companies lost a climate battle to its shareholders.

A general meeting at the management of ExxonMobil in Dallas Wednesday was described by the Washington Post as a "shareholder rebellion," where several of the largest shareholders, including some of the world's largest asset managers, forced management in the company to make special climate calculations. This occurred via a resolution which was backed by 62.3 percent of shareholders, but was not backed by management.

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