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Church of England rallies investors in Exxon fight, returns 17 percent

A discreet investment fund under the Church of England was at the very center of the matter when Exxon was voted down by shareholders this May, demanding more focus on climate change.

Photo: Church of England

President Donald Trump may have quit the Paris climate accord, but shareholders are not going to let carbon-producing US companies off the hook. Witness the investor victory over Exxon Mobil Corp. management on May 31, a day before the Trump decision.

Over the Exxon board's objections, almost two-thirds of shareholders voted for a proposal asking the company to provide a detailed report on how curbing climate change could affect its business. Leading the charge was the giant New York State Common Retirement Fund, which manages USD 192 billion and is a veteran activist. Its partner was a far smaller and lower-profile newcomer taking one of its first public stands in the US: the Church of England.

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